Turkish Lira is losing value after the developments in American Side. When we look at the latest developments of American side, the increase in Dollar index and the high possibility of interest increase by Fed are affecting the developing markets' currencies negatively.In the future, increasing political risks also support the rise in exchange rates. In the last weekend, the tension between Turkey and the Netherlands led to the new week's depreciation of the Turkish Lira. Therefore, it is not surprising to see the volatility increase in USD/TRY parity in the global forex market.
According to the data released on Friday in the US, Non-Farm Employment increased by 235 thousand people in February, above the market expectation. In the mentioned period, the unemployment rate decreased to 4.7 %, while the labor force participation rate increased to 63 %. The data released in the US show that the labor market continues to improve and we can say that the Federal Reserve looks forward to interest rate increases in March. Finally, we can say the precautions from Turkey side will be the determinant factor in USD/TRY parity in the next days.
- Date: 13 March 2017 Mon 07:22
- Last Added
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