Dollar/TRY trades at 29.32 after starting the day with an increase

The dollar/TRY, which moved in a downward trend yesterday, closed the day at 29.1550, down 0.2 percent.

After starting the new day with gains, the dollar/TRY is trading at 29.3180 as of 10:35 AM, up 0.6 percent. At the same time, the euro/TRY is being sold at 32.3180 with a 1 percent increase, while the sterling/TRY is trading at 37.2210 with a 0.1 percent decrease.

The dollar index, which closed the day yesterday at 101.7 with a 0.1 percent decrease, is currently at 101.6, just below its previous close.

Analysts stated that a calm trend is being observed in the foreign exchange markets due to the fact that many markets in Europe are closed for the Christmas holiday.

Noting that pricing regarding the policies the US Federal Reserve (Fed) will follow next year indicates an 85 percent probability of an interest rate cut in March, analysts reported that signals to be received from data to be released throughout the week could change these forecasts.

Emphasizing that the domestic data agenda is quiet today, while the Chicago National Activity Index, the House Price Index, and the Dallas Fed Manufacturing Index data will be monitored abroad in the US, analysts stated that technically, the 101 and 100 point levels are support, and 103 and 104 points are resistance for the dollar index.

News Source: 12punto