How did USD/TRY start the day?

USD /TRY is trading at 40.2250 after starting the day on an upward trend.

Dollar/TL, which remained flat yesterday, closed the day at 40.1740, just above its previous close.

As of 09:45 today, the dollar/TL exchange rate is trading at 40.2250, up 0.1 percent. At the same time, the euro/TL is trading at 47.0410, up 0.4 percent, and the pound/TL is trading at 54.1190, up 0.3 percent.

The dollar index also decreased by 0.1 percent to 97.9.

While US President Donald Trump's threatening statements about tariffs are fueling concerns that trade wars may intensify again, inflation data to be released today in the US and expectations regarding the balance sheets of some major banks are affecting the direction of asset prices.

US President Donald Trump announced in the tariff letters he published over the weekend that a 30 percent customs duty will be applied to products shipped from the European Union (EU) and Mexico to the US starting August 1, regardless of sectoral tariffs.

Trump, targeting Russia, said yesterday that if Russia fails to reach an agreement with Ukraine within 50 days, he will increase tariffs on the country by 100 percent.

Analysts stated that the possibility that other countries could retaliate against the US administration's repressive stance on tariffs has increased risk perception.

Meanwhile, June inflation data in the US, to be released today, is expected to provide more insight into the impact of tariffs on prices. Analysts predicted the Consumer Price Index (CPI) will rise by 2.6 percent year-over-year and 0.3 percent month-over-month in June, while the core CPI, which the US Federal Reserve closely monitors for its inflation outlook, is expected to rise by 0.3 percent month-over-month.

Analysts stated that domestic markets will be closed today, and that a busy data agenda will be followed abroad, along with inflation data to be released in the US.