USDTRY

In emerging markets, variations in currencies against the US Dollar are being observed. Today, the strongest currency is the Peruvian Sol, while the Turkish Lira is in the weakest position, down 0.45%. Domestic political developments are accelerating the depreciation of the Turkish Lira, with the USDTRY rate rising to 41. It has been noted that this movement has stabilized at the 38 level due to the intervention of the Central Bank of the Republic of Turkey (TCMB). Additionally, the TCMB's increase of the overnight lending interest rate to 46% has limited declines in the Dollar/TL to 37.59.

In the short term, the 144-period average of the USDTRY rate (ranging between 36.56 and 36.75) stands out as a key support point. The exchange rate may attempt to remain above this average. Alongside the 38.06 level, targets of 38.30 and 38.50 carry upward potential. The status of the 38.06 level will be an important indicator for the market, while breaking the intermediate support region at 37.59 is critical for a potential reaction.