31.07.2025 12:17
The USD/TRY is trading at 40.5920, showing a flat trend. Following the Federal Reserve's decision to keep interest rates unchanged, the dollar index has decreased by 0.2%. Analysts indicate that there are significant developments in tracking economic data both domestically and internationally.
```html
After the Federal Reserve's (Fed) decision to keep interest rates steady, the markets' attention has once again turned to exchange rates. The USD/TRY started the new day with a horizontal trend and is trading at around 40.59. President Jerome Powell's message that "we have not made a decision for September regarding interest rate cuts" has led to cautious pricing in the markets, while investors are closely monitoring both the domestic Central Bank of the Republic of Turkey (CBRT) data and the economic indicators coming from the United States today.
HORIZONTAL TREND IN DOLLAR AFTER FED INTEREST RATE DECISION
Yesterday, the USD/TRY traded in the range of 40.6050-40.5490, closing the day just above the previous closing at 40.5900. As of 09:40 today, the USD/TRY is trading horizontally at 40.5920. At the same time, the Euro/TRY is up 0.7% at 46.5840, and the GBP/TRY is up 0.4% at 54.0120. The dollar index is down 0.2% at 99.6.
After the Federal Reserve's (Fed) meeting where interest rates were kept steady, President Jerome Powell's cautious stance in his verbal guidance is expected to affect the direction of asset prices, as the dollar index approaches 100 again, indicating that the alternative cost of many assets may change.
The Fed kept the policy rate unchanged at 4.25-4.50%, in line with expectations, while indicating that inflation continues to remain somewhat high.
WHAT WILL THE INTEREST RATE BE IN SEPTEMBER?
In a statement from the Fed, it was noted that FOMC members Michelle Bowman and Christopher Waller opposed the decision to keep the interest rate steady and favored a 25 basis point cut in the policy rate.
Fed Chairman Powell stated in his remarks following the decision to keep the policy rate steady that they have not made any decisions regarding interest rate cuts for September.
AGENDA TO BE FOLLOWED
Powell stated, "We have not made any decisions regarding September. We do not make such decisions in advance. When we make our decision at the September meeting, we will take into account the information we will have by then and all other data."
Analysts noted that today, the summary of the Monetary Policy Committee (MPC) meeting of the Central Bank of the Republic of Turkey (CBRT), the foreign trade balance, the Services Producer Price Index (H-PPI), and weekly money and banking statistics will be followed domestically, while abroad, the Consumer Price Index (CPI) in Germany, the Personal Consumption Expenditures (PCE) price index in the U.S., and unemployment claims, among other data, will be closely monitored.
```