The Turkish lira rose about 1% today, Thursday, for the third day in a row, to offset some of the recent losses, with growing expectations that the central bank will raise interest rates from 17% next week.

The lira settled at 7.44 against the US dollar by 07:20 GMT, rising from yesterday's close of 7.5120.

The Turkish currency rose to 7.7840 on Monday as US bond yields soared.

Falling dollar

As for the dollar, its index fell to its lowest level in a week during early trading in the European session today, and currency markets witnessed moderate risk appetite, with attention shifting to the European Central Bank meeting to set policy (monetary).

During the European Central Bank meeting, policymakers are expected to send a message that they will prevent bond yields from rising again, hurting the bloc's economic prospects.

The European Central Bank is expected to indicate a faster pace of printing money, but without adding to its already strong policy package, and the bank is set to make its decision on monetary policy today.

By 08:34, the dollar was down about 0.2% at 91.606 points against a basket of currencies, after retreating from a 3-month high of 92.506 reached on Tuesday.

Regarding the euro, it was up about 0.3% against the dollar, recording $ 1.19585, and a decline of 2.1% since the beginning of the year.

Gold is rising

Gold prices rose today to their highest levels in more than a week, after weaker inflation data in the United States halted the advance of Treasury and dollar yields.

And gold profit in spot transactions 0.4% to reach 1733.46 dollars an ounce (an ounce) by 5:46 GMT, after reaching its highest level since the third of March at 1734.55 dollars earlier.

US gold futures rose 0.6% to $ 1732.20, and record US bond yields remained weak.

And the recent high returns threatened the position of gold as a hedge against inflation, as it means the high opportunity cost of owning the metal that does not generate a return.

A bill to mitigate the repercussions of Corona in the United States, worth $ 1.9 trillion, finally won approval yesterday, and is expected to give a strong boost to the economic recovery.

As for the other precious metals, silver increased 0.5% to $ 26.30 an ounce, palladium fell 0.1% to $ 2,303.11, and platinum gained 1.1% to $ 1216.32.