US Dollar hits record high against Turkish Lira

The US Dollar has reached a record high against the Turkish Lira, testing the 49.1630 level. This upward momentum is driven by increasing geopolitical risks and shifting interest rate expectations.

In the United States, weaker-than-expected non-farm payroll data has increased market anticipation that the Federal Reserve will hold interest rates steady at its upcoming October meeting. Analysts suggest there is an 80% probability of a hold this month, while a 95% probability is priced in for a 25 basis point increase in December.

In the Turkish market, the Euro has shown a relatively flat trend, trading around 55.40 TL. Meanwhile, the British Pound has seen slight declines. Globally, Brent crude oil remains near the $102 mark, influenced by heightened tensions and tanker attacks near the Strait of Hormuz, which continue to impact global supply chain security and inflation expectations.