{"id":30231,"date":"2026-03-13T00:05:04","date_gmt":"2026-03-13T00:05:04","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/fed-yeniden-fiyatlamasi-ve-yukselen-petrol-fiyatlari-yeni-zayif-tutuyor-usd-jpyyi-onceki-kur-kontrolu-seviyelerine-dogru-itiyor\/"},"modified":"2026-03-13T00:05:04","modified_gmt":"2026-03-13T00:05:04","slug":"fed-yeniden-fiyatlamasi-ve-yukselen-petrol-fiyatlari-yeni-zayif-tutuyor-usd-jpyyi-onceki-kur-kontrolu-seviyelerine-dogru-itiyor","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/fed-yeniden-fiyatlamasi-ve-yukselen-petrol-fiyatlari-yeni-zayif-tutuyor-usd-jpyyi-onceki-kur-kontrolu-seviyelerine-dogru-itiyor\/","title":{"rendered":"Fed yeniden fiyatlamas\u0131 ve y\u00fckselen petrol fiyatlar\u0131 yeni zay\u0131f tutuyor, USD\/JPY\u2019yi \u00f6nceki kur kontrol\u00fc seviyelerine do\u011fru itiyor"},"content":{"rendered":"USD\/JPY Per\u015fembe g\u00fcn\u00fc \u00fc\u00e7\u00fcnc\u00fc g\u00fcn \u00fcst \u00fcste y\u00fckseldi ve 159,18 civar\u0131nda i\u015flem g\u00f6rd\u00fc. Bu seviye, Japon yetkililerin 23 Ocak\u2019ta yapt\u0131\u011f\u0131 \u201ckur kontrol\u00fc\u201d (yetkililerin piyasadaki kur seviyesini aray\u0131p sorarak izledi\u011fini g\u00f6stermesi) ile ba\u011flant\u0131l\u0131 seviyelere d\u00f6n\u00fc\u015f anlam\u0131na geliyor. Bu da olas\u0131 m\u00fcdahale (yetkililerin d\u00f6viz al\u0131p satarak kuru etkilemesi) s\u00f6ylentilerini art\u0131rd\u0131.\n\nYen, Japonya ile di\u011fer b\u00fcy\u00fck ekonomiler aras\u0131ndaki geni\u015f faiz fark\u0131 nedeniyle zay\u0131f kald\u0131. Piyasalar ayr\u0131ca Japonya\u2019n\u0131n mali duru\u015funa (kamu harcamalar\u0131 ve b\u00fct\u00e7e politikas\u0131) ve zaten y\u00fcksek olan kamu borcuna odakland\u0131.\n\n<h3>M\u00fcdahale Riski Yeniden G\u00fcndemde<\/h3>\nABD Dolar\u0131\u2019na talep, ABD-\u0130ran \u00e7at\u0131\u015fmas\u0131 nedeniyle artt\u0131. H\u00fcrm\u00fcz Bo\u011faz\u0131\u2019ndan ge\u00e7en petrol ak\u0131\u015f\u0131 ciddi \u015fekilde aksad\u0131; bu hat k\u00fcresel ham petrol ihracat\u0131 i\u00e7in kritik bir ge\u00e7i\u015f noktas\u0131.\n\nOrtado\u011fu\u2019dan \u00f6nemli \u00f6l\u00e7\u00fcde enerji tedarik eden ve net enerji ithalat\u00e7\u0131s\u0131 (ihtiyac\u0131ndan fazlas\u0131n\u0131 d\u0131\u015far\u0131dan alan) olan Japonya, daha y\u00fcksek ithalat maliyetleriyle kar\u015f\u0131 kar\u015f\u0131ya. Bu durum b\u00fcy\u00fcmeyi ve d\u0131\u015f ticaret dengesini (ihracat-ithalat fark\u0131) olumsuz etkileyebilir ve Yen \u00fczerindeki bask\u0131y\u0131 art\u0131rabilir.\n\nJaponya Merkez Bankas\u0131 (BoJ), para politikas\u0131n\u0131 s\u0131k\u0131la\u015ft\u0131rma (faizi art\u0131rarak talebi so\u011futma) konusunda temkinli \u00e7izgisini s\u00fcrd\u00fcrd\u00fc. BoJ Ba\u015fkan\u0131 Kazuo Ueda, d\u00f6viz kurundaki hareketlerin kendi tahminlerini nas\u0131l etkiledi\u011fini yak\u0131ndan izleyerek politika belirleyeceklerini s\u00f6yledi.\n\nPiyasalar BoJ\u2019un Nisan\u2019da faiz art\u0131rmas\u0131n\u0131 bekliyor ancak zamanlama net de\u011fil. \u00d6te yandan, ABD\u2019de faiz indirimi beklentisi y\u0131l sonuna kadar 25 baz puan\u0131n (0,25 y\u00fczde puan) alt\u0131na geriledi; Ortado\u011fu gerilimi \u00f6ncesinde bu beklenti 50 baz puan\u0131n \u00fczerindeydi. Bu tablo, daha y\u00fcksek ABD Hazine tahvili getirileri (devlet tahvillerinin faizi) \u00fczerinden Dolar\u2019\u0131 destekliyor.\n\nCuma g\u00fcn\u00fc a\u00e7\u0131klanacak ABD verileri aras\u0131nda PCE Fiyat Endeksi (Fed\u2019in en \u00e7ok takip etti\u011fi enflasyon g\u00f6stergelerinden biri), 4. \u00e7eyrek y\u0131ll\u0131kland\u0131r\u0131lm\u0131\u015f \u00f6nc\u00fc GSYH (ekonominin b\u00fcy\u00fcme h\u0131z\u0131), Dayan\u0131kl\u0131 Mal Sipari\u015fleri (uzun \u00f6m\u00fcrl\u00fc \u00fcr\u00fcn sipari\u015fleri) ile Michigan \u00dcniversitesi t\u00fcketici g\u00fcveni ve beklentiler endeksi yer al\u0131yor.\n\n<h3>Yat\u0131r\u0131mc\u0131lar Politika ve Oynakl\u0131\u011f\u0131 Tart\u0131yor<\/h3>\n2025 ba\u015f\u0131ndaki d\u00f6neme bak\u0131ld\u0131\u011f\u0131nda, USD\/JPY\u2019nin 159\u2019un \u00fczerine \u00e7\u0131kmas\u0131 Japon yetkililerde ciddi rahats\u0131zl\u0131k yaratm\u0131\u015ft\u0131. Mart 2026\u2019da parite yeniden bu kritik seviyeye yakla\u015f\u0131yor ve 158,50 civar\u0131nda i\u015flem g\u00f6r\u00fcyor. Bu da m\u00fcdahale olas\u0131l\u0131\u011f\u0131n\u0131 yat\u0131r\u0131mc\u0131lar\u0131n g\u00fcndemine yeniden ta\u015f\u0131yor ve d\u00f6viz piyasas\u0131nda gerginli\u011fi art\u0131r\u0131yor.\n\nOcak 2025\u2019teki uyar\u0131lar\u0131n ard\u0131ndan Maliye Bakanl\u0131\u011f\u0131\u2019n\u0131n o y\u0131l\u0131n ilkbahar\u0131nda piyasaya girdi\u011fi biliniyor. Kay\u0131tlara g\u00f6re Yen\u2019i desteklemek i\u00e7in yakla\u015f\u0131k 7 trilyon yen harcand\u0131 ve paritede birka\u00e7 g\u00fcn i\u00e7inde \u00e7ok h\u0131zl\u0131, \u00e7ok yenlik bir d\u00fc\u015f\u00fc\u015f ya\u015fand\u0131. Bu ge\u00e7mi\u015f, yetkililerin \u00f6nce s\u00f6zl\u00fc uyar\u0131 verebilece\u011fini ancak bir noktadan sonra maliyetli ad\u0131m atabildi\u011fini g\u00f6steriyor.\n\nYen zay\u0131fl\u0131\u011f\u0131n\u0131n ana nedenlerinden biri olan faiz fark\u0131 sorunu bug\u00fcn de s\u00fcr\u00fcyor. BoJ politika faizini %0,25\u2019e y\u00fckseltmi\u015f olsa da ABD Merkez Bankas\u0131 (Fed) faizi s\u0131n\u0131rl\u0131 indirimlerle %4,75\u2019e \u00e7ekti. Aradaki b\u00fcy\u00fck fark, \u201ccarry trade\u201di (d\u00fc\u015f\u00fck faizli para biriminden bor\u00e7lan\u0131p y\u00fcksek faizli para birimine ge\u00e7erek faiz fark\u0131ndan getiri arama) te\u015fvik ediyor. Bu bask\u0131, resmi ad\u0131m olmadan Yen\u2019in kal\u0131c\u0131 g\u00fc\u00e7lenmesini zorla\u015ft\u0131r\u0131yor.\n\nABD-\u0130ran \u00e7at\u0131\u015fmas\u0131n\u0131n yaratt\u0131\u011f\u0131 enerji \u015foku da piyasalarda kal\u0131c\u0131 etki b\u0131rakt\u0131. H\u00fcrm\u00fcz Bo\u011faz\u0131\u2019ndaki a\u011f\u0131r aksakl\u0131klar azalsa da k\u00fcresel petrol fiyatlar\u0131 daha y\u00fcksek bir tabana yerle\u015fti. WTI ham petrol (ABD tipi ham petrol g\u00f6stergesi) varil ba\u015f\u0131na yakla\u015f\u0131k 85 dolar seviyesinde daha istikrarl\u0131 seyrediyor. Bu durum Japonya\u2019n\u0131n d\u0131\u015f ticaret dengesini olumsuz etkiliyor ve Yen\u2019deki yap\u0131sal (kal\u0131c\u0131) zay\u0131fl\u0131\u011fa katk\u0131 veriyor.\n\n2025\u2019teki m\u00fcdahale b\u00f6lgesine yak\u0131nl\u0131k nedeniyle, t\u00fcrev \u00fcr\u00fcn i\u015flemi yapan yat\u0131r\u0131mc\u0131lar USD\/JPY\u2019de ani ve sert d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 koruma sa\u011flayan stratejileri de\u011ferlendirebilir. Bir veya iki ay vadeli \u201cput\u201d opsiyonu almak (belirli fiyattan satma hakk\u0131), Japon yetkililerden gelebilecek s\u00fcrpriz bir hamleye kar\u015f\u0131 do\u011frudan sigorta sa\u011flar. Bu sigortan\u0131n maliyeti dikkate al\u0131nmal\u0131; \u00e7\u00fcnk\u00fc paritede %3-5 d\u00fc\u015f\u00fc\u015f riski y\u00fckselmi\u015f durumda.\n\n\u00d6te yandan faiz fark\u0131 h\u00e2l\u00e2 ABD Dolar\u0131 ta\u015f\u0131may\u0131 (elde tutmay\u0131) Yen\u2019e g\u00f6re daha avantajl\u0131 k\u0131l\u0131yor; bu da yukar\u0131 y\u00f6n\u00fcn daha olas\u0131 oldu\u011fu alg\u0131s\u0131n\u0131 destekliyor. Daha temkinli bir y\u00fckseli\u015f stratejisi olarak \u201ccall spread\u201d (belirli aral\u0131kta k\u00e2r\u0131 ve zarar\u0131 s\u0131n\u0131rlayan opsiyon kombinasyonu) kullan\u0131labilir. Bu y\u00f6ntem, paritedeki kademeli y\u00fckseli\u015ften yararlan\u0131rken m\u00fcdahale durumunda azami riski s\u0131n\u0131rlar.\n<p>\n\n<p><strong>Hemen i\u015flem yapmaya ba\u015flay\u0131n &#8211; Ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in <a href=\"https:\/\/www.vtmarkets.com\/tr\/trade-now\/\">buraya<\/a> t\u0131klay\u0131n <\/strong> <\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>USD\/JPY 159 e\u015fi\u011fine dayand\u0131: m\u00fcdahale s\u00f6ylentileri g\u00fc\u00e7leniyor. Faiz fark\u0131 ve enerji \u015foku Yen\u2019i zay\u0131flat\u0131rken, BoJ temkinli. Fed indirimi \u00f6teleniyor. Yat\u0131r\u0131mc\u0131 put\/call spread ile oynakl\u0131\u011fa kar\u015f\u0131 pozisyon al\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-30231","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=30231"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30231\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=30231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=30231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=30231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}