Dollar hits 19-month high in global market

On Thursday (November 12), in the international currency market, the dollar index, which measures the dollar's value against six major currencies, rose by 0.11 percent to 102.98 points. This is the index's highest level since April 2025.

After higher-than-expected inflation data in the United States was published in October this year, discussions about the possibility of the Fed raising interest rates began anew. US central bank officials expressed deep concern that inflation has not yet come under control. They did not even rule out the possibility of raising interest rates by up to 50 basis points.

According to market analysts, alongside raising interest rates next December, there are strong expectations of another round of interest rate increases in early next year. Several top brokerage firms, including Goldman Sachs, have also forecast additional interest rate hikes at the beginning of next year.

Against the dollar's strong position, other major currencies have depreciated. Among them, the euro fell by 0.08 percent to $1.108, its lowest since May last year. On the other hand, the British pound fell by 0.16 percent to $1.3259. However, against the Japanese yen, the dollar fell slightly by 0.03 percent to 159.74 yen.