US Treasury secretary Steven Mnuchin assured president Donald Trump at a Cabinet meeting that sanctions were ready to be put in place if Mr Brunson was not freed.
Turkish President Recep Tayyip Erdogan says his country will boycott US -made electronic goods amid a diplomatic spat that has helped trigger a Turkish currency crisis.
"The worst of the broader contagion fears is likely behind us, and we do not expect further knock-on effects from Turkish concerns for the major currencies or for global financial markets more broadly", said Erik Nelson, currency strategist at Wells Fargo Securities in NY.
The lira has lost almost 40 per cent against the dollar this year, driven by worries over President Tayyip Erdogan's growing control over the economy and his repeated calls for lower interest rates despite high inflation.
The lira held steady during Albayrak's conference call but later weakened when Treasury Secretary Steven Mnuchin said the U.S. was prepared to levy more sanctions on Turkey if detained American pastor Andrew Brunson was not freed. Sterling edged higher from 14-month low against the dollar on Thursday but it gains were marginal despite strong British retail sales with the currency hamstrung by fears over Britain leaving the European Union.Hot weather and the World Cup boosted retail sales in July, data showed, but that offered little respite for the pound which traded just above the $1.27 level.
The finance minister will seek to reassure worldwide investors on Thursday in a conference call for which a ministry official said some far 3,000 people had signed up. That has only fanned the flames of Turkey's economic turmoil.
Albayrak rejected seeking a bailout from the International Monetary Fund, an option never seen as likely given that Erdogan often boasts of paying off Turkey's past International Monetary Fund debts in May 2013.
Trump has also authorized higher steel and aluminum tariffs against Turkey.
The lira's drop in value is certain to further fuel inflation, which is already near 16 percent.
Global investors have been anxious by Turkey's high levels of foreign debt and Erdogan's refusal to allow the central bank to raise interest rates to support the currency, as experts say it should.
In response, Erdogan has called for a boycott of United States electrical goods while Ankara has sharply hiked tariffs on some USA goods.
He has also warned Ankara could start looking for new allies, as well as new markets.
It has gained some support from the announcement late on Wednesday of a Qatari pledge to invest United States dollars 15 billion in Turkey.
Turkey's Foreign Minister Mevlut Cavusoglu on Thursday reiterated his criticism of US's current political stance against Turkey.
Mr Erdogan held a similar conversation with Germany's Angela Merkel on Wednesday.
Albayrak on Thursday spoke with his German counterpart Olaf Scholz on the phone, where the two ministers agreed to "take steps in order to reinforce economic cooperation", Albayrak's office said in a statement.
Obviously, being banned from selling to the United States government is a significant blow to these companies. The ban itself covers tech that is "essential" or "critical" from Huawei and ZTE in systems they are used in.
The report goes on to state that the favoured destination for the former Real Madrid manager is Manchester United . Mourinho is under vast pressure this season after failing to win a trophy at Old Trafford in the 2017-18 campaign.
Queen , Nicki's fourth studio album, was released August 10, just one week ahead of the album's original August 17 release date. Colbert then bowed down to Nicki , who asked, "Are you married?" while Colbert hid his wedding ring behind the desk.
He said his memory of the night was "incomplete" due to his head injury. "They just want to get in with their lives". Stokes went out celebrating after beating the West Indies in a match in Bristol on September 24.
President Donald Trump announced tariff increases on Turkish metals as tensions between Turkey and the United States escalated. Washington "must give up the misguided notion that our relationship can be asymmetrical", he said in the opinion piece.
NBC News aired the new audio but cautioned that the organization does not know what was said before or after the segment provided. It was unclear how Manigault Newman, if her story is true, managed to get a cell phone into the Situation Room.
Brooks Koepka celebrates with the Wanamaker Trophy after winning the PGA Championship golf tournament at Bellerive Country Club. Tiger Woods staked his claim for one of the wildcard picks by finishing second to Koepka at the US PGA Championship on Sunday.
This was said to be due to weaker-than-expected oil demand data from Latin America and the Middle East in the second quarter. There were "a lot of fears about the Iran volumes coming off and US supply, but none of those fears have played out".
Omarosa told CBS that she found it "ironic" that such high-level campaign and White House staffers were reacting in such a manner. When asked if he felt betrayed by Omarosa by a New York Times reporter on Saturday, Trump called his former aide a " lowlife ".
In 1989, her brother and manager Cecil passed away from lung cancer, one year after her sister Carolyn died of breast cancer. Carey, who considers Franklin one of her biggest influences, wrote on Twitter that she is "praying for the Queen of Soul".
Turkey doubles tariffs on some USA imports; lira rallies
Among the products are cars, rice, some alcohol and tobacco products and some cosmetic products like sun creams. Meanwhile, Turkey has also decided reject a US appeal calling for the release of an imprisoned American pastor .
Death toll rises to 35 in Italy bridge collapse; 3 missing
Opened in 1967, the bridge is part of the A10 motorway connecting Genoa to France and is named after designer Riccardo Morandi. Some of the wreckage landed in a dry riverbed that could flood when the rainy season resumes in a few weeks.
Tesla CEO Musk accused in lawsuit of defrauding shareholders
July 1, 2018 - Tesla factory workers produce more than 5,000 Model 3 sedans during the last week of June, hitting Musk's goal. The worst affected segment appears to be the short-sellers in the market who sell high and do the repurchase later.
Pixel 3 XL Making China-Made Notch Looking Like Gems
Photos and video of what appears to be a production unit Google Pixel 3 XL have been leaked online, reports AndroidPolice . The Android 9 Pie release is the proof in the proverbial pudding that Android as an operating system has hit its stride.
Here's how and when to watch the Perseid meteor shower
Yet, light pollution in towns and cities can prevent optimum viewing conditions, and reduce the visibility of the shooting stars. And if your view is obscured by weather or clouds this weekend, the Perseids are visible for several nights afterward.