Dolar and Euro Rates in Turkish Lira, Current Status in Interbank Foreign Exchange Markets
The current state of the dollar and euro exchange rates has been a focal point in today’s financial markets. As of now, the USD/TRY pair is trading at 32.70, while the EUR/TRY pair stands at 35.08.
Meanwhile, the dollar index is holding steady at 105.5, reflecting market sentiments amid the Federal Reserve’s cautious stance despite inflation easing. Recent Producer Price Index (PPI) data from the U.S. suggests a quicker-than-expected slowdown, prompting market pricing for a 74% chance of a rate cut in September and 86% in November.
Although Fed projections indicate expectations for one rate cut this year, markets are pricing in a 90% probability of a second reduction in December following the initial move.
Analysts noted that the latest U.S. data signals the fruits of a robust stance against inflation, emphasizing close monitoring of upcoming macroeconomic indicators to gauge further signals of economic slowdown.
Source: NTV / Prepared by Irem Yildiz