USD Index Price Analysis: Losses expected to accelerate below 109.00

• DXY regains some poised following three daily pullbacks.
• The 9-month support line appears around 109.00.

DXY picks up some buying interest and briefly tests the area just beyond 110.00 the figure on Wednesday.

Further weakness in the dollar should not be ruled out despite the current bullish attempt. That said, the loss of the 9-month support near 109.00 carries the potential to magnify the decline and open the taps to extra retracement in the near term.

In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 104.66.

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Gold Price Forecast: XAU/USD to come under pressure if real rates remain elevated – SocGen

Gold has resisted higher real rates, strong dollar and fund outflows, but remains vulnerable, in the view of strategists at Société Générale.

Gold has outperformed treasuries and TIPS so far this year

“In the past, we have observed that gold seems to correlate well with three factors – US real rates, the dollar and ETF flows (regression r-squared of almost 95%). However, the price of gold has remained quite elevated compared to the theoretical value yielded by our models.”

“If real rates remain elevated for the foreseeable future, one of the assets that could come under pressure is gold.”

“Gold has outperformed treasuries and TIPS so far this year, but may not be able to resist the high yield for much longer if there is no pivot in the near-term from the Fed.”

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Gold Price Forecast: XAU/USD sits near three-week high, above $1,700 amid weaker USD

Gold gains strong follow-through traction and rallies to a three-week high on Tuesday.

Retreating US bond yields weighs heavily on the USD and offers support to the metal.

Bulls shrug off the risk-on impulse, though hawkish Fed expectations could cap gains.

Gold is extending the overnight breakout momentum through the $1,680-$1,685 supply zone and building on its recovery from the lowest level since April 2020. The strong follow-through positive move lifts the XAU/USD to a three-week high, around the $1,710 region during the first half of the European session on Tuesday.

The US dollar retreats further from a two-decade top touched last week and turns out to be a key factor driving flows towards the dollar-denominated commodity. The Bank of England's willingness to buy up to £5 billion of long-dated gilts drags the US bond yields away from a multi-year top and continues to weigh on the greenback.

Apart from this, growing worries about a deeper economic downturn in the US and Europe offer additional support to the safe-haven gold. The fears were further fueled by Monday's disappointing US data, which showed that manufacturing activity grew marginally in September, at its slowest pace in nearly 2-1/2 years.

This, to a larger extent, helps offset the risk-on mood and does little to dent the prevalent bullish sentiment surrounding gold. That said, the prospects for a more aggressive policy tightening by major central banks could act as a headwind for the non-yielding yellow metal and keep a lid on any further gain, at least for now.

Market participants now look forward to the US monthly employment details, scheduled for release on Friday. The popularly known NFP report will play a key role in influencing the Fed's future rate hike path. This, in turn, should help investors to determine the next leg of a directional move for the greenback and gold.

In the meantime, Tuesday's US economic docket features JOLTS Job Openings and Factory Orders data. This, along with speeches by FOMC members and the US bond yields, will drive the USD demand and provide impetus to the XAU/USD. Traders will also take cues from the broader risk sentiment for short-term opportunities around gold.

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Gold Price Forecast: XAU/USD rises to more than one-week high amid heavy USD selling

Gold gains strong positive traction on Friday amid aggressive USD long-unwinding trade.

Aggressive Fed rate hike bets, elevated US bond yields should help limit the USD losses.

The risk-on impulse could further contribute to capping the safe-haven precious metal.

Gold attracts fresh buying on the last day of the week and climbs to a nearly two-week high during the early part of the European session. The XAU/USD is currently placed just below the $1,730 level and is looking to build on its recent bounce from the lowest level since July 21 touched last week.

The US dollar comes under heavy selling pressure on Friday and retreats further from a two-decade high, which turns out to be a key factor boosting demand for the dollar-denominated commodity. The steep USD downfall to a fresh monthly low could be solely attributed to some long-unwinding and is more likely to remain limited amid hawkish Fed expectations.

In fact, the US central bank is anticipated to tighten its monetary policy at a faster pace to tame inflation and the bets were reaffirmed by Fed Chair Jerome Powell on Thursday. Speaking at a Cato Institute conference, Powell reiterated the central bank's strong commitment to bringing inflation down and added that the Fed needs to keep going until it gets the job done.

Powell's remarks reaffirmed market bets for a supersized 75 bps rate hike at the next FOMC meeting on September 20-21. This remains supportive of elevated US Treasury bond yields, which should help limit any meaningful USD corrective slide. Moreover, other major central banks, except the Bank of Japan, have also maintained a more hawkish bias.

Apart from this, the risk-on impulse - as depicted by a generally positive tone around the equity markets - might further contribute to capping the upside for the safe-haven metal. This, in turn, warrants some caution for aggressive bulls. Nevertheless, gold remains on track to register weekly gains and snap a three-week losing streak.

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Gold Price Forecast: XAU/USD bears target $1,720 as US dollar keeps reins

Gold price extends its losing streak into the sixth straight day on Monday.

US dollar resumes its rally as risk-aversion gathers steam amid surging energy costs.

XAU/USD needs to crack $1,730 to extend the sell-off towards $1,720 and $1,714.  

Gold price remains under intense selling pressure at the start of the week, extending the previous week’s bearish momentum into the sixth straight day. The relentless demand for the safe-haven US dollar could be linked as the main underlying factor behind the latest sell-off in the bright metal. Investors witness flight to safety amid hawkish Fed expectations and surging energy costs in Europe and Asia after Russia’s Nord Stream 1 pipeline announced its closure due to maintenance end of this month. Global central banks’ fight to tame inflation is likely to prolong amid rising food and energy prices, which dents risk appetite while weighing negatively on the non-interest bearing yellow metal. Gold traders shrug off the minor pullback in the US Treasury yields, as the dollar will likely remain the preferred safety bet heading into the much-awaited Kansas City Fed’s Jackson Hole Symposium, scheduled later this week.

Gold Price: Key levels to watch

The Technical Confluence Detector shows that the gold price is eyeing a fresh downswing towards the Bollinger Band one-day Lower at $1,720 should bears yield a sustained break below the $1,730 barrier. That level is the intersection of the pivot point one-day S3 and pivot point one-week S1.

The next critical support area is located around $1,714, the Fibonacci 232.6% one-month.

Alternatively, the metal could rebound towards the pivot point one-day S2 at $1,737 should bears face exhaustion.

Further up, the pivot point one-day S1 at $1,743 will come into the picture. Bulls will then look to recapture the previous day’s low of $1,746.

The last line of defense for XAU sellers is envisioned at the confluence of the SMA200 four-hour and the Fibonacci 23.6% one-day around $1,750.

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Russia suspends oil exports via southern leg of Druzhba pipeline – Reuters

Citing two sources familiar with the operation, Reuters reported on Tuesday that Russia suspended oil exports via the southern leg of the Druzhba pipeline from early August due to issues relating to transit fees.

"According to the sources, the payment from Russia's pipeline monopoly Transneft to Ukraine's pipeline operator Ukrtransnafta did not go through," Reuters explained.

Market reaction

Crude oil prices rose sharply with the initial reaction to this development. As of writing, the barrel of West Texas Intermediate was trading at $91.85, where it was up 1.55% on a daily basis.

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Gold Price Forecast: XAUUSD remains depressed below $1,850, bulls trying to defend 200-DMA

Gold met with a fresh supply on Friday and snapped a two-day winning streak.

Resurgent USD demand, the risk-on impulse turned out to be a key bearish factors.

The ongoing decline in the US bond yields offered some support and helped limit further losses.

Gold struggled to capitalize on its strong gains recorded over the past two trading sessions and witnessed some selling on the last day of the week. The XAUUSD remained depressed through the first half of the European session and was last seen trading just below the $1,850 level. Bulls, however, have managed to defend support at a technically significant 200-day SMA, warranting some caution before positioning for any further losses.

The US dollar caught aggressive bids and reversed a part of this week's retracement slide from a two-decade high amid hawkish Fed expectations. Investors seem convinced that the US central bank will stick to its aggressive policy tightening path to combat stubbornly high inflation. The bets were reaffirmed by the Fed's so-called dot plot, which showed that the median projection for the federal funds rate stood at 3.4% for 2022 and 3.8% in 2023. This, in turn, assisted the USD to snap a two-day losing streak to a one-week low and dented demand for the dollar-denominated gold.

Apart from this, the risk-on impulse - as depicted by a generally positive tone around the equity markets - further undermined the safe-haven precious metal. That said, the ongoing decline in the US Treasury bond yields offered some support to the non-yielding gold. Investors took comfort from the fact that the Fed forecasted the rate to decline to 3.4% in 2024 and 2.5% over the long run. This, in turn, dragged the US bond yields away from over a two-decade high touched earlier this week, which, along with mounting recession fears, could help limit deeper losses for gold, at least for now.

Market participants now look forward to the US economic docket, featuring Industrial Production and Capacity Utilization Rate for a fresh impetus later during the early North American session. Traders will further take cues from the US bond yields, the USD price dynamics and the broader market risk sentiment to grab short-term opportunities around gold on the last day of the week.

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Gold Price Forecast: XAUUSD steadily climbs to $1,825 area, fresh daily high ahead of FOMC

Gold gained traction on Wednesday and snapped a two-day losing streak to a near one-month low.

Retreating US bond yields prompted some USD profit-taking and extended some support to the metal.

Hawkish Fed expectations might cap gains for the XAUUSD ahead of the key central bank event risk.

Gold attracted some buying on Wednesday and for now, has snapped a two-day losing streak to a near one-month low, around the $1,805 region touched the previous day. The XAUUSD built on its steady intraday ascent through the first half of the European session and climbed to a fresh daily high, around the $1,826 region in the last hour.

Retreating US Treasury bond yields prompted traders to take some profits off their US dollar bullish bets, especially after the recent strong bullish run to a two-decade high. This, in turn, was seen as a key factor that prompt some short-covering around the dollar-denominated commodity. That said, the attempted recovery move runs the risk of fizzling out rather quickly and remains capped amid expectations for a more aggressive policy tightening by the Fed.

Investors now seem convinced that the US central bank would tighten its monetary policy at a faster pace to combat stubbornly high inflation, which surged to a four-decade high in May. In fact, Fed fund futures indicate rising odds of a 75 bps rate hike at the conclusion of a two-day FOMC meeting on Wednesday and another 75 bps hike in July. This should act as a tailwind for the US bond yields and the USD, which, in turn, might cap gains for the non-yielding gold.

Hence, the focus remains glued to the outcome of a two-day FOMC monetary policy meeting, due later during the US session. A 75 bps Fed rate hike move would be the biggest since 1994 and send shockwaves across asset classes, boosting the USD and lending some support to gold prices. In the meantime, traders might take cues from the US monthly Retail Sales figures, though any immediate market reaction is more likely to be short-lived.

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Gold Price Forecast: XAUUSD to remain under pressure following robust US jobs data – Commerzbank

Gold remains pressured. In the view of strategists at Commerzbank, the strong Nonfarm Payrolls report released on Friday has exacerbated the yellow metal’s downside potential.

Further US Fed rate hikes are likely

“Gold is being kept in check by the firm US dollar and rising bond yields. Yields on ten-year US Treasuries are currently above the 3% mark again. This has caused real interest rates to rise again too, making gold unattractive as a non-interest-bearing alternative investment.” 

“Gold has found itself under pressure since last Friday, probably thanks in part to the robust US labour market. This is because 390K new jobs were created in the US in May, more than expected.” 

“Since demand for labour remains unchanged at a high level, there is still a risk of a wage-price spiral, so we believe that further US Fed rate hikes are likely.” 

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Gold Price Forecast: XAUUSD wavers in range around $1,850, levels to watch

Gold Price is struggling around the $1,850 area amid risk-off markets.

Record high inflation rate in the Euro area re-ignites growth concerns.

USD holds the bounce with yields, XAUUSD’s range play likely to extend.

Gold Price is adding to the previous losses while keeping its range around the $1,850 psychological level. The precious metal feels the heat from a broad US dollar rebound amid a sharp upturn in the Treasury yields. Markets remain in a risk-off mode, underpinning the dollar’s haven demand. The ongoing upsurge in oil prices and record-high inflation in the Euro area have re-ignited global growth worries, as central banks remain on a tightening spree. Against this backdrop, gold price is finding some comfort, limiting its move lower. Traders now look forward to the US Nonfarm payrolls release for a fresh direction in XAUUSD.

Gold Price: Key levels to watch

The Technical Confluences Detector shows that the Gold Price is gyrating around the $1,851 critical barrier, which is now acting as strong support. That price is the convergence of the Fibonacci 61.8% one-week, SMA50 four-hour and the pivot point one-day S1.

If that breaks then the next safety net appears at the pivot point one-day S2 at $1,848.

Further south, the pivot point one-month S1 at $1,846 will challenge the bullish commitments.

The last line of defense for gold bulls is seen at $1,841, the confluence of the SMA200 one-day, the previous week’s low and the pivot point one-week S3.

On the upside, bulls need a firm break above the $1,856 supply zone, where the SMA5 one-day, Fibonacci 23.6% one-day and the previous high four-hour collide.

The next bullish target is aligned at $1,859, the Fibonacci 38.2% one-day and one-week.

The Fibonacci 23.6% one-week at $1,863 will guard the additional upside, opening doors for a test of the previous week’s high of $1,870.

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Gold Price Forecast: XAUUSD to fall further towards $1,691/77 – Credit Suisse

Gold tested $1,800 on Monday but managed to reverse its direction. Economists at Credit Suisse expect the yellow metal to suffer additional losses towards the $1,691/77 zone.

Gold/Silver ratio holding a major base to reinforce the likelihood gold still outperforms

“Gold has broken support from its uptrend from last August and 200-day average at $1,838/28 to warn of a retest of pivotal long-term support from the lower end of the two-year range at $1,691/77. Only below here though would see an important top established here also.”

“The Gold/Silver ratio has completed a major base to suggest that gold should continue to outperform silver and even though gold can weaken on an outright basis, it is still more likely weakness within the broader range for now.”

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Gold Price Forecast - XAUUSD rebounds towards $1,850 as DXY eases ahead of US inflation

Gold price manages to consolidate losses at three-month low ahead of the key US inflation data.

Mixed sentiment, DXY pullback recall buyers but Fedspeak, growth fears weigh on prices.

12-day-old megaphone formation, weekly resistance line also keep sellers hopeful even as softer US CPI can extend price recovery.

Gold Price is looking to extend its recovery from three-month lows of $1,836 in the European session, as it recaptures the psychological $1,850 barrier ahead of the critical US inflation data.

The recovery momentum in XAU/USD strengthens, as the US dollar index extends its pullback from above the 104.00 level, undermined by the relief rally seen across the global markets.

China’s Consumer Price Index (CPI) rose past 1.8% market consensus to 2.1% YoY whereas the Producer Price Index (PPI) crossed 7.7% expectations with the 8.0% yearly figures. As China is among the world’s top gold consumers, firmer inflation despite the coronavirus-led lockdowns underpins the hopes of the dragon nation’s future demand for the yellow metal.

Also favoring the prices could be headlines from Shanghai local authorities that mentioned no virus spread in eight districts.

On the same line were early Asian session comments from Atlanta Fed President Raphael Bostic who mentioned that the US economy is strong and demand is high while also expecting the neutral rate at 2.0-2.5%.

Even so, Cleveland Fed President and FOMC member Loretta Mester recalled the market bears as she said, “They don't rule out a 75 basis points rate hike forever”.

Also challenging the gold buyers is China’s “Zero Covid Tolerance” policy despite the World Health Organization’s (WHO) push to ease the rigid activity restrictions in Shanghai and Beijing. The lockdowns in the world’s largest industrial player pose a serious threat to global growth, especially at a time when inflation fears are high.

Elsewhere, the tales of the Russia-Ukraine war and its likely negative implications also keep gold sellers hopeful. As per the latest updates, Europe needs to divert its gas flow from Russia which previously used to arrive via Ukraine.

Gold price: Four-hour chart

Amid these plays, the US 10-yer Treasury yields and the US Dollar Index (DXY) remain pressured around 2.99% whereas the S&P 500 Futures print mild gains near the 4,000 level after a mixed closing on Wall Street.

Looking forward, the US CPI is expected to ease to 8.1% from 8.5%, and will be important to watch for fresh impulses. However, a major focus will be on the US Consumer Price Index ex Food & Energy figures which are likely to ease to 6.0% YoY versus 6.5% prior. Should the inflation figures refrain from easing for April, the US dollar will witness magnified buying, which in turn will drag XAU/USD towards a fresh multi-month low.

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Gold Price Forecast: XAU/USD flat-lined around $1,975 region, eyes NFP for fresh impetus

Gold remained on the defensive through the early European session amid hawkish Fed expectations.

The underlying bullish sentiment surrounding the USD further acted as a headwind for the commodity.

A softer risk tone extended some support as investors await the release of the US jobs report (NFP).

Gold reversed modest intraday losses and was last seen trading around the $1,974-$1,975 region, nearly unchanged for the day during the early European session.

The spillover effect from the overnight broad sell-off on Wall Street weighed on investors' sentiment, which was evident from a softer tone around the equity markets. This, in turn, was seen as a key factor that extended some support to the safe-haven gold, though any meaningful upside remains elusive amid the prospects for further policy tightening by the Fed.

Fed Chair Jerome Powell said on Wednesday that a 75 bps rate hike is not under active consideration, though stated that policymakers were ready to approve a 50 bps increase at upcoming meetings. Moreover, the markets are still pricing in a further 200 bps rate hike for the rest of 2022, which remained supportive of elevated US Treasury bond yields.

Apart from this, the underlying bullish sentiment surrounding the US dollar, which held steady near its highest level in two decades, further acted as a headwind for the dollar-denominated gold. The downside, however, seems cushioned as investors wait on the sidelines ahead of the release of the closely-watched US monthly jobs data.

The popularly known NFP report is expected to be consistent with tightening labour market conditions and likely back the case for additional Fed rate hikes. This, along with the emergence of fresh selling on Thursday, suggests that the path of least resistance for the non-yielding gold is to the downside and any attempted recovery could be seen as a selling opportunity.

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Gold Price Forecast: XAU/USD struggles near one-week low, below $1,950 ahead of Powell

• Gold Price is back in the red, as sellers keep lurking just below $1,960.
• An uptick in the US bond yields acted as a headwind for the commodity.
• All eyes remain on Fed Chair Powell’s and US President Biden’s speech.

Gold struggled to capitalize on the previous day's modest rebound from over a one-week low and came under some renewed selling pressure on Thursday. The XAU/USD remained on the defensive through the early European session and was last seen trading just below the $1,950 level.

The mild recovery in the US Treasury yields on increased Fed’s hawkishness is acting as a headwind for spot prices. Gold could see further downside risks in the near term on rising bets for multiple 50 bps Fed rate hikes, which had sent the US 10-year real yields into the positive territory for the first time in two years.

Apart from this, the risk-on impulse - as depicted by a generally positive tone around the equity markets - weighed on traditional safe-haven assets, including gold. That said, the ongoing US dollar retracement slide from its highest level since March 2020 could lend some support to the dollar-denominated commodity.

The main event risk for Gold Price on Thursday remains Fed Chair Jerome Powell’s appearance at the International Monetary Fund (IMF) Spring Summit. His comments will hold the key, as they come just before the bank enters its "blackout" period.

Powell may fail to excite the dollar bulls and could emerge as a boon for Gold Price, as he may refrain from hinting at an aggressive tightening outlook after the US core inflation eased a bit in March.

The sentiment on global markets will be also closely followed for its impact on the safe-haven Gold amid uncertainty over the Russia-Ukraine war, concerning inflation levels that threaten the economic recovery worldwide.

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EUR/USD: A test of the March 7 low near 1.0805 is still in the cards – BBH

 The euro bounced after the French election but remains heavy near 1.09. Economists at BBH note that the EUR/USD pair may test the March 7 low near 1.0805.

Run-off will be held between Macron and Le Pen

“Macron got 28% of the vote vs. 24% for Le Pen in the first round. One early poll shows Macron winning 54-46% in the second round, while another one is a lot closer at 51-49%. We warn of the so-called Bradley effect, which suggests that the polls will likely understate Le Pen’s support. If polls tighten up ahead of the runoff, we expect markets to become more jittery.”

“A break above 1.1050 is needed to signal a deeper correction towards the March 31 high near 1.1185.” 

“A test of the March 7 low near 1.0805 is still in the cards.”

 Gold Price Forecast: XAU/USD treads water around $1,930, in search of fresh direction

• Gold price is keeping its weekly range trade intact around $1,930.
• US dollar, yields capitalize on increased bets of a 50-bps May Fed rate hike.
• Gold Price Forecast: Will XAU/USD close the week above critical 21-DMA at $1,935?

Gold price is flatlined while trading within the mid of this week’s range around $1,930 so far this Friday. The market sentiment has somewhat improved in European trading, which has triggered a pullback in the US dollar and the Treasury yields. Although the underlying concerns over the aggressive Fed’s tightening and the Western sanctions on Russia are likely to keep the dollar bulls hopeful amid a data-light US docket. The Fed commentary continued to back the case for a 50-bps rate hike in the May meeting, dulling the demand for the non-interest-bearing gold price. The bulls need a decisive close above the 21-Daily Moving Average (DMA) at $1,935 to kick start a fresh uptrend. Attention now turns towards the critical US inflation data due next week. Meanwhile, the sentiment around the dollar and yields will continue to have a significant impact on the bright metal.

Gold (XAU/USD) has tumbled below its principal cushion of $1,930.00 as the market participants are raising bets on settlement of the US dollar index (DXY) above the crucial resistance of 100.00. The precious metal is falling gradually in the Asian session after a mildly positive start on Friday.

The discussions over pushing the interest rate to its mean reversion by the Federal Reserve (Fed) policymakers are underpinning the greenback against the yellow metal. A preliminary estimate of the yearly US Consumer Price Index (CPI) at 6.6%, which will release next week, is dictating the story of soaring inflation. Federal Open Market Committee (FOMC) members have narrated the neutral rate at 2.4% at which demand will not dampen and growth will not de-escalate. To shift the current interest rates to the neutral rate, the Fed has already announced one or more interest rate hikes by 50 basis points (bps) out of the six interest rate hikes to be announced this year.

The DXY is trading around 100.00, seeking a trigger that will drive the asset higher. Meanwhile, the 10-year US Treasury yields are trading at 2.66%, at the press time and are looking to extend gains by overstepping a three-year high at 2.67%.

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 Dollar Edges Lower Ahead of Fed Minutes; Aussie Dollar Soars

The U.S. dollar traded in a tight range Tuesday, while the euro edged lower on talk of additional sanctions on Russia and the Australian dollar received a boost from a hawkish central bank.

At 3:00 AM ET (0700 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded marginally lower at 98.955, just below the one-week high of 99.083 reached overnight. 

The dollar has been drifting this week so far as investors await the arrival of the minutes from last month’s Federal Reserve policy meeting, due on Wednesday. 

Expectations are building that the central bank will move more aggressively at its meeting in May, especially after a jobs report that showed nonfarm payrolls increasing by 431,000 jobs last month while the unemployment rate fell to a new two-year low of 3.6%.

Ahead of the Fed minutes, Tuesday sees the release of ISM’s non-manufacturing PMI data for March, at 10:00 AM EST (1400 GMT), which is expected to show increased momentum in March, while speeches from Fed policymakers Neel Kashkari, Lael Brainard and John Williams will also be closely studied.

Elsewhere, AUD/USD rose 0.9% to 0.7607, jumping to a nine-month high, after the Reserve Bank of Australia left its benchmark interest rate unchanged at 0.1% at its latest policy setting meeting, but indicated that rate hikes were coming.

Australia’s central bank dropped its pledge to be "patient" on tightening policy in its statement following the decision, a phrase that has featured in every post-meeting release since November 2021, suggesting that it is going to hike sometime soon.

EUR/USD was largely unchanged at 1.0972, hovering above a one-week low, on talk of fresh sanctions on Moscow following alleged atrocities on civilians by Russian forces in the Ukrainian town of Bucha.

German Chancellor Olaf Scholz said that Putin and his supporters would "feel the consequences" of events in Bucha, while Biden's national security advisor, Jake Sullivan, stated that new U.S. sanctions against Moscow would be announced this week.

“It still seems that the EU is some way from weaning itself off Russian oil,” said analysts at ING, in a note. “Presumably, any moves from the EU toward a Russian oil embargo would see crude prices spike higher again and the euro come under pressure.”

USD/JPY fell 0.2% to 122.58, dropping back further from the multi-year high of 125.10 reached in late March after Bank of Japan Governor Haruhiko Kuroda stated that the recent pace of appreciation was "somewhat rapid," and policymakers are watching moves "carefully."

GBP/USD rose 0.1% to 1.3133, USD/CNY was flat at 6.3638, while USD/TRY rose 0.1% to 14.7092 the day after Turkey’s inflation jumped to a fresh 20-year high in March, with consumer prices rising an annual 61.1% through last month.

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