Although Turkey’s lira rebounded somewhat on Tuesday, investors say the crisis is far from over, leading them to look to some of the country’s previous crises to assess the outlook for both the economy and the currency. And the conclusion is grim. The lira USDTRY, -3.0283% has dropped almost 40% against the U.S. dollar so far this year, according to FactSet data. Over the past 12 months, it has plunged more than 40% versus the greenback.That’s not dissimilar to the selloffs seen during Turkey’s 1994 crisis, when the lira plunged 60%, or its 2001 tumult, which triggered a 70% drop in the currency, said Win Thin, global head of EM currency strategy at Brown Brothers Harriman.via