Photo: Diego Cupolo/NurPhoto via Getty Images

The Turkish lira has continued its six-day free fall, hitting a record low against the dollar following news that the U.S. will review the country's duty-free access to the American market, reports Reuters.

Why it matters: The currency has lost a quarter of its value this year, driven both by President Recep Tayyip Erdogan’s push to exercise more control over Turkey's monetary policy and the threat of U.S. sanctions over the detention of American pastor Andrew Brunson. A review by the U.S. Trade Representative's office on whether Turkey has complied with its preferential tariff system could affect $1.66 billion worth of Turkish imports.

Go deeper

Trump: "We are going a different way" on coronavirus aid

President Trump. Photo: Jim Watsonn/AFP via Getty Images

President Trump tweeted on Friday that his administration is "going a different way" with coronavirus aid after negotiations with congressional Democrats stalled again, suggesting he will use an executive order to address stimulus spending.

What he's saying: "Pelosi and Schumer only interested in Bailout Money for poorly run Democrat cities and states. Nothing to do with China Virus! Want one trillion dollars. No interest. We are going a different way!" Trump tweeted.

Trump's swift, sweeping China offensive

Illustration: Aïda Amer/Axios

President Trump's rhetoric on China has tended to run hotter than his actions — until now.

Why it matters: Even at the height of Trump's trade war, his administration never hit China as hard, as fast, and on as many fronts as it is right now.

Liberty University's Jerry Falwell Jr. agrees to “indefinite leave of absence”

Liberty University President Jerry Falwell Jr. in 2019. Photo: Ethan Miller/Getty Images

Jerry Falwell Jr. will take an “indefinite leave of absence” from his roles as president and chancellor of Liberty University after posting a photo of himself with unzipped pants and an arm around a woman on social media, according to the school.

The state of play: The picture, which has since been deleted, drew backlash and charges of hypocrisy from conservative political figures because the university's honor code strictly prohibits students from having "sexual relations outside of a biblically-ordained marriage," and recommends they dress with“appropriateness” and “modesty."