Exchange rate hits a new peak: Record rise in dollar and euro

Fluctuations in global markets have led to significant increases in exchange rates. "Hawkish" statements from US Federal Reserve (FED) officials have increased market volatility and caused record levels to be seen in exchange rates. The dollar/TL reached a new historical peak, climbing to 42.3313 during the night. In the morning hours, it continued to trade at the 42.3220 level.

NEW PEAKS IN EURO/TL

The euro/TL also began the final trading day of the week at record levels. Rising to as high as 49.34 TL during the night session, the euro broke new records by trading at the 49.31 TL level in the morning hours.

FED'S INTEREST RATE POLICY AND MARKET EXPECTATIONS

The decreasing probability of the US Federal Reserve cutting interest rates in December has created pressure on the markets. Analysts state that economic data to be released next week and Nvidia's financial results will be closely monitored.

With these developments, the VIX Index, known as the "fear index," rose by 15 percent to reach the 20.16 level. The yield on the US 10-year Treasury bond rose by 4 basis points to 4.12 percent. The dollar index, meanwhile, fell by 0.3 percent to 99.16. In money markets, the probability of the FED cutting interest rates by 25 basis points next month fell from 63 percent to 52 percent.

News Source: 12punto