The lowest level in the last 15 months dollar indexis experiencing its weakest days since April 2022. dollar index, which measures the value of the US dollar against major country currencies DXYdecreased to 97.75 points on the last day of the week. The dollar-TL parity, on the other hand, remains calm.
Dollar Index Dropped Hard!
US inflation data released on Tuesday came in much more positive than expected. Producer prices, on the other hand, rose slightly in June, maintaining optimistic expectations.
Falling inflation is leading the market to expect the Federal Reserve (FED) to come to the end of its rate hike cycle. As investors move away from the dollar for this reason, they show interest in riskier assets such as gold, stocks and Bitcoin.
The CFTC, on the other hand, confirms the pressure on the dollar with another data. The Commodity Futures Trading Commission has found that the amount of dollars that investors are selling short has more than doubled.
However, CME FedWatch revealed a situation from the general perception. According to its website, the interest rate will increase by 25bps at the FED meeting on July 25-26. Speaking at night, FED official Christopher Waller gave the message that interest rates would increase.
Some of the leading economists emphasized the positive effects of falling inflation more than expected. According to experts, positive data show that the recession period in the American economy will shorten.
Dollar TL Stagnant
Although the dollar index DXY continues to decline, the situation is different for the Turkish Lira. The Dollar-TL parity, which rose to 26 TL after the elections, has been calm in recent days.
As of 11.49, 1 US Dollar is trading at 26.19 against the Turkish Lira.
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