Dollar/TL Surpasses 35 Threshold

As the Dollar/TL continues its moderate rise, it has surpassed the 35 threshold today. The Dollar/TL is currently trading at 35.02, crossing an important barrier. After trading close to the 35 mark for some time, the pair has continued to set record levels with today's increase, now trading above 35 TL. Meanwhile, the Euro/TL is trading around 36.8, experiencing a daily increase of 0.3%, while remaining 4.6% away from the record level reached in September.

On a global scale, the dollar index maintains a horizontal trend, hovering just below the 107 mark ahead of the Fed's decision. The market appears mixed as attention focuses on the monetary policy decisions to be made by the U.S. Federal Reserve. The Fed is expected to lower the policy interest rate by 25 basis points this evening. Following the decision, Fed Chairman Jerome Powell’s statements and the provided clues may contain significant signals regarding future monetary policies. Analysts emphasize the importance of this meeting due to increasing uncertainties for the upcoming period and indicate that market volatility may increase thereafter. The Dollar/TL continues to show a 19% increase as the year comes to a close. Since the beginning of the year, the Dollar/TL exchange rate has increased by 19.16%, while the rise since the beginning of December has been 1.13%. The dollar index also continues into December with a 1.12% increase, rising from 105.78 to 106.96.

With Donald Trump's election as President of the United States, the perception of a strong dollar has resurfaced, and the dollar continues to appreciate against major currencies. During this process, the Euro has weakened, with the EUR/USD pair testing below 1.05 with a decline of 5.75%.