USD/TL Started New Week with a Loss

USD/TL Exchange rate started March with a decline, with the intervention and balancing in the bond markets.

USD/TL started the new week with a loss. The rate started March with a decline of more than 1 percent as the markets stabilized after the week when the US bond rate increased last week, showing its worst performance since August 2018. While the Japanese and New Zealand bonds started the new week by rallying, the US dollar/TL exchange rate decreased with the 10-year bond yield balancing around 1.40 percent. Australia's 10-year bond yield, which reached up to 2 percent in the heavy bond sales wave last week, dropped by 32 basis points this morning, making its sharpest decline since the beginning of the epidemic. The decline in the yield was driven by the Australian Federal Reserve's purchase of $ 3.1 billion, twice the normal long-term bond.   Worst Week Since 2018 USd/TL rate started last week at 6.96, with a gain of 6.61 percent, reached 7.42. Showing the biggest rise since August 2018, the US dollar rate completed February with an increase of 1.6 percent. After the rise in the exchange rate last week, the positions of institutions such as Societe Generale and Citigroup in favor of TL were completed by taking the cut-off levels.