While there is a decline in the crypto money sector, the value of foreign currencies on TL continues to increase in the global sector.
President yesterday Recep Tayyip Erdogan After the statements made by the US dollar, the volatility of the US dollar continues today with the opening of the markets.
With the opening of the market, the US dollar traded at the level of 11.42 TL, and in the following hours, it broke the all-time record by reaching the level of 12.32 TL.
The Euro, on the other hand, started the day from 12.67 TL and reached the level of 13.95 TL, joining the US dollar in a record breaking point.
Especially the statements made by Erdogan on inflation and interest rates are interpreted as the main reason for this activity.
However, another factor is affecting the volatility of the US dollar. Global markets are now waiting for Joe Biden’s speeches.
It is spoken in global markets that the FED will increase interest rates before expected and it is claimed that asset purchases will be cut off in an instant.
This can be clarified with the speech that US President Joe Biden will make today.
Biden, in his statement yesterday, emphasized that he would nominate Powell as the Chairman of the Fed and reassured him.
Now, it is known that Biden will make assessments on the US economy. If Biden makes a statement about inflation and interest as the market expects, there may not be much change in the economic world.
However, making an unexpected announcement can definitely change everything.
We will be following the announcements today.