Dollar/TL reached the 49 TL limit

Dollar/TL continued its rise on the first trading day of the week and reached the 49 TL limit. While the dollar index rose to a two-month high as interest rate increase expectations in the USA grew stronger and geopolitical risks came to the fore again, the rise in bond yields is also in the focus of the markets.

DOLLAR IS AT 49 TL LIMIT

Dollar/TL, which moved in an upward trend on Friday, completed the day at 48.9560, 0.1 percent above the previous close.

The dollar/TL exchange rate, which reached 49 TL on the last trading day of last week, is moving towards record levels in the new week.

Dollar/TL is at 48.98 as of 11:00, 0.1 percent above the previous closing. In the same minutes, Euro/TL is traded at 55.78 with a 0.1 percent increase, and Pound/TL is traded at 64.89 with a 0.1 percent decrease.

The dollar index is at 101.2, with an increase of 0.2 percent.

BOND YIELDS ARE RISING

The US's rejection of the 7-day ceasefire offer offered by Iran to open the Strait of Hormuz to traffic brought geopolitical risks back to the agenda.

While the selling pressure in the bond market is strengthening again due to inflation concerns, the US 10-year bond yield is close to the highest levels seen since 2007 at 5.23 percent.

EYES ON FED AND OIL PRICES

Strong US data and the expectation that the US Federal Reserve (Fed) may continue to increase interest rates pushed the dollar index to a two-month high.

The course of oil prices in the markets and whether the rise in bond interest rates will continue will be closely monitored.

On the other hand, the extension of the trade ceasefire on the US-China side until January 10 was a factor that reduced the risk of re-escalation of tension in the short term.

DOMESTIC DATA AGENDA IS CALM

Analysts stated that the data agenda will be calm in the country today, while the Dallas Fed manufacturing industry index for September in the USA will be followed abroad.