USD/TL Increased After A Calm Start To The Week

USD/TL increased after a calm start to the week. The effects of weak employment data in the US have begun to wear off.

The USD/TL exchange rate, which dropped to the level of 8.22 with the employment data that was much weaker than expected last week, started to rise after the calm start of the new week. Last week, the USD/TL exchange rate, which reached 8.38, decreased with the US Treasury bond interest rates, weakening US dollar and the US non-farm employment data, which was lower than the expectations, closed the week almost horizontally. After the 10-year US Treasury bond yield dropped from 1.62 percent to 1.56 percent last week, it reached 1.48 percent, with the US non-farm payrolls not coming in line with expectations. Interest rates, which then rise again, are moving around 1.59 percent this week. Non-farm payroll employment in the US increased by 266,000 in April and did not meet analysts' expectations. In April, the unemployment rate in the country also rose to 6.1 percent. Economists' expectation was that unemployment would be 5.8 percent in April.