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Dollar continues to rise against TL: Two records in one day

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Moving in a downward trend on Friday, the dollar/TL completed the day at 16.4176, 0.30 percent below the previous closing level.

The dollar, which saw the lowest level of 15.9306 during the day, saw the highest level of the year, 16.6164.

Dollar/TL, moving in an upward trend today, is seeing the process at 16.5818 with an increase of 1 percent compared to the previous closing level with its prestige. One-on-one minutes are sold at 17.8599 Euro/TL and 20.8745 for £20.8745 in one-on-one minutes.

The dollar index tested 102.2 on Friday after the US nonfarm payrolls data beat expectations, and is now quickly below 102. The euro/dollar parity, on the other hand, is trading at 1.0745, 0.2 percent above the previous closing level.

EXCHANGE MARKET VOLTAGE MAY CONTINUE

Analysts said that inflation concerns continue to be effective on the side of asset prices, and that the increasing risk appetite suppressed the dollar index after the latest macroeconomic information announced in the USA calmed the recession fluctuations and China took the new type of coronavirus epidemic under control to a large extent.

Stating that investors are focusing on the US inflation data to be announced on Friday this week and the European Central Bank (ECB) meeting to be held on Thursday, analysts said that the volatility in the foreign exchange markets may continue.

Analysts reported that 101.7, which also crosses the 50-day moving average for the dollar index, is technically the mainstay and 102.5 is the resistance position.

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