US Dollar hits record high against Lira amid Middle East tensions

The US dollar has reached new highs against the Turkish Lira, driven by escalating military tensions in the Middle East and anticipation of US economic data. Following US airstrikes in Iran and subsequent retaliations, geopolitical risks have surged, providing strong support for the dollar index, which reached levels near 99.77.

In the Turkish market, the USD/TRY exchange rate hit a record of 48.30 TL. Conversely, the Euro and British Pound have faced downward pressure; the Euro has fluctuated around the 56 TL mark, while the Pound has traded near 65.26 TL.

Market participants are closely monitoring upcoming US employment figures, including non-farm payrolls and ADP private sector employment data, to gauge future Federal Reserve interest rate policies. These economic indicators, combined with statements from Fed officials regarding inflation targets, remain central to currency market volatility.