Dollar/TL horizontal… Dollar movements are being monitored

//

Lerato Khumalo

Following the non-farm employment data announced last Friday, the dollar rose to the highest level since 2022. Dollar/TL remained flat at 34.50 TL. It started today at 34.48 TL. Euro started from 36.40 TL.

The DXY Index, which measures the strength of the dollar against other currencies, exceeded 110 for the first time since November 2022. Euro/dollar parity also reached the level of 1.02.

Data showing that the US economy remains strong led to expectations that inflation would take longer to reach targeted levels and therefore the Fed would slow down interest rate cuts. This strengthened the dollar against other currencies.

The current account deficit in Turkey was 2 billion 871 million dollars in November. There was a surplus of 3 billion 443 million dollars in the current account balance, excluding gold and energy.

Evaluating the figures, Minister of Treasury and Finance Mehmet Şimşek said, “The decline of the current account deficit to sustainable levels was one of the most important achievements of our program.” Şimşek said, “We expect the ratio of the current account deficit to national income to be below 1 percent and much more positive than our 2024 target.”

There is no important data inside today. Dollar pricing will be followed in global markets.

Tomorrow, US inflation will be announced.