US dollar vs euro
Last week’s central bank decision to cut key interest rates by 100 basis points to 12% may have prompted the US dollar to gain in value against the Turkish lira, but the situation is quite different for the euro exchange rate. The euro has, in fact, lost sharply against the Turkish lira since last week.
While the US dollar is profiting from interest rate hikes, the euro zone is struggling with inflation, an energy crisis and supply chain disruptions coupled with a central bank, which is too slow to act. Annual euro zone inflation the