Breaking News... Falling in global markets, hitting records in Turkey! Dollar nears 47 TL threshold

The rising tension in the Middle East following mutual military retaliations between the US and Iran continues to impact global markets. It is assessed that developments in the region could increase the risk of high inflation and keep the possibility of interest rate hikes by the US Federal Reserve (Fed) on the agenda.

DOLLAR INDEX DECLINED IN GLOBAL MARKETS

In the shadow of geopolitical developments, the dollar index (DXY) lost value during the day in global markets.

The dollar index, which fell from the 100.933 point level to 100.625 points, also showed a 0.20 percent decline on a weekly basis.

NEW PEAK IN DOLLAR/TL

Despite the decline in the dollar index in global markets, the dollar/TL continued its rise in the domestic market.

Reaching the 46.95 TL level against the Turkish lira, the dollar renewed its historic peak and rose to the 47 TL threshold.

EURO CONTINUED ITS RISE

The euro, which gained strength in global markets with the retreat in the dollar index, also continued its rise in the domestic market.

The euro/TL exchange rate rose to the 53.82 level, maintaining its high trajectory.

POUND STERLING SURPASSED THE 63 TL BARRIER

The British pound also continued its rise against the Turkish lira.

Surpassing the 63 TL level, the pound reached a new record level by trading at 63.16 TL. Thus, the pound also renewed its historic peak in the domestic market.

News Source: 12punto