Dollar/TL is trading at the 29.44 level

Moving in an upward trend yesterday, the dollar/TL completed the day at 29.3932 with a 1 percent increase.

The dollar/TL, having started the new day with gains, is trading at 29.4350 with a 0.1 percent premium as of 10:30 AM. At the same time, the euro/TL is being sold at 32.7260 with a 0.2 percent increase, and the sterling/TL at 37.7330 with a 0.2 percent gain.

The dollar index, which completed the day at the 100.9 level with a 0.47 percent decrease yesterday, is currently at 100.7, its lowest level since July 27, with a 0.3 percent decrease.

Analysts stated that expectations that the US Federal Reserve (Fed) could begin interest rate cuts in March of next year continue to impact asset prices.

While pricing in money markets indicates that the Fed is nearing the end of its 2-year inflation battle, this situation supports a buying-weighted trend in both equity and bond markets.

Analysts, who reported that weekly money and bank statistics will be monitored domestically today, and wholesale inventories and weekly jobless claims in the US will be followed abroad, stated that from a technical perspective, the 100 and 99 point levels are support, and 102 and 103 points are resistance for the dollar index.

News Source: 12punto