USD/TL Rate Started the Day with Horizontal Movement

USD/TL rate started the day with a horizontal movement. The US dollar is moving horizontally as global markets turn their attention to the incentive package that Joe Biden will reveal the details of. Global markets turned their attention to the details of the additional stimulus package to be announced in the USA. However, with the developing country exchange rates, the Turkish Lira followed a horizontal course against the US dollar. USD/TL exchange rate, which reacged above 7.50 on the second trading day of the week, was on the band of 7.40-7.42 in the first hours on Thursday. First Coronavac vaccine, which Turkey approved for emergency use and purchased from China, was administered to Minister of Health Fahrettin Koca. The vaccination program was officially implemented with the vaccination of healthcare workers. With the start of the year 2021, a new one has been added to the foreign institution reports on Turkish Lira. The last report came from Capital Economics. In the report signed by Jason Tuvey, it was noted that if the current monetary policy continues, the gain in TL is expected to continue. According to the report in question, the institution's year-end USD/TL estimate is at the level of 7. In Turkey, 5-year risk premium was recorded as 320 basis points with a loss of 11 basis points. The 2-year benchmark bond interest rate was 14.69 percent.