Dollar gains, Turkish market focuses on inflation

By Bahattin Gonultas

ANKARA (AA) - The U.S. dollar recovered some of Friday’s losses over the weekend after the U.S. Senate approved tax-cut legislation.

The greenback rose against all major currencies on Monday in Asia and the euro/dollar exchange rate fell 0.2 percent to 1.1869 on the global currency market.

In other developments, the market will be watching Brexit talks as British Prime Minister Theresa May has talks with European Commission President Jean Claude Juncker.

In another key European issue, euro-zone finance ministers will select a new president Monday and discuss Greece's bailout review.

In Turkey, the Turkish Statistical Institute revealed that annual inflation for November reached 12.98 percent. The Central Bank's money and exchange rate policy report will be published on Tuesday.

On Thursday, last month’s treasury cash balance will be revealed, followed by figures for October’s industrial production on Friday.

The Turkish lira fall to 3.9390 against the dollar at Monday’s opening, compared to 3.9135 on Friday’s close.

Gold prices were down 0.33 percent at $1,274 per ounce at 0632GMT Monday.

On Friday, Turkey's benchmark stock index closed down 0.41 percent at 103,558,98 points.

The Brent crude oil index hovered over $63.38 per barrel on Monday at 0632GMT.

The ten-year benchmark bond in Turkey was traded at 12.24 percent, 12 base points lower than Friday’s close.