{"id":30698,"date":"2026-03-19T08:07:34","date_gmt":"2026-03-19T08:07:34","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/asya-seansinda-dolarin-geri-cekilmesiyle-usd-chf-07910a-dogru-gerilerken-gozler-snb-politikasinda\/"},"modified":"2026-03-19T08:07:34","modified_gmt":"2026-03-19T08:07:34","slug":"asya-seansinda-dolarin-geri-cekilmesiyle-usd-chf-07910a-dogru-gerilerken-gozler-snb-politikasinda","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/asya-seansinda-dolarin-geri-cekilmesiyle-usd-chf-07910a-dogru-gerilerken-gozler-snb-politikasinda\/","title":{"rendered":"Asya seans\u0131nda Dolar\u2019\u0131n geri \u00e7ekilmesiyle USD\/CHF 0,7910\u2019a do\u011fru gerilerken, g\u00f6zler SNB politikas\u0131nda"},"content":{"rendered":"USD\/CHF Per\u015fembe g\u00fcn\u00fc Asya i\u015flemlerinde, \u00c7ar\u015famba g\u00fcnk\u00fc y\u00fckseli\u015fin ard\u0131ndan yakla\u015f\u0131k 0,7910 seviyesine geriledi. Hareket, ABD Dolar\u0131\u2019n\u0131n (USD) zay\u0131flamas\u0131yla gelirken piyasalar bu y\u0131l Fed\u2019den daha az faiz indirimi beklemeye devam etti.  \n\nABD Dolar Endeksi (DXY, dolar\u0131n ba\u015fl\u0131ca para birimleri kar\u015f\u0131s\u0131ndaki g\u00fcc\u00fcn\u00fc g\u00f6steren endeks) %0,14 d\u00fc\u015f\u00fc\u015fle 100,00 civar\u0131na indi. CME FedWatch (faiz vadeli i\u015flemlerinden Fed\u2019in olas\u0131 kararlar\u0131na dair olas\u0131l\u0131k hesaplayan g\u00f6sterge) Fed\u2019in faizi %3,50\u2013%3,75 aral\u0131\u011f\u0131nda tutma olas\u0131l\u0131\u011f\u0131n\u0131 %55,2 olarak verdi.  \n\n<h3>Fed Politika Sinyali ve Piyasa Fiyatlamas\u0131<\/h3>  \n\u00c7ar\u015famba g\u00fcn\u00fc Fed, \u00fcst \u00fcste ikinci toplant\u0131da faizi de\u011fi\u015ftirmedi. Ayr\u0131ca enflasyonun yukar\u0131 y\u00f6nl\u00fc riskleri nedeniyle politika de\u011fi\u015fikli\u011finin \u015fu a\u015famada uygun olmad\u0131\u011f\u0131 sinyalini verdi.  \n\nReuters\u2019a g\u00f6re Fed Ba\u015fkan\u0131 Jerome Powell, Orta Do\u011fu\u2019daki \u00e7at\u0131\u015fman\u0131n petrol \u00fczerinden enflasyon beklentilerini y\u00fckseltmesinin fiyatlara ve ekonomiye etkisini de\u011ferlendirmek i\u00e7in erken oldu\u011funu s\u00f6yledi. Powell ayr\u0131ca Fed\u2019in gerekti\u011finde ad\u0131m atmaya haz\u0131r oldu\u011funu belirtti.  \n\n\u0130svi\u00e7re Frang\u0131 (CHF), 08:30 GMT\u2019de a\u00e7\u0131klanacak \u0130svi\u00e7re Merkez Bankas\u0131 (SNB) karar\u0131 \u00f6ncesi baz\u0131 para birimlerine g\u00f6re zay\u0131f seyretti. SNB\u2019nin politika faizini %0\u2019da sabit tutmas\u0131 bekleniyordu.  \n\nPiyasalar\u0131n oda\u011f\u0131, SNB\u2019nin yeniden negatif faize (politika faizinin s\u0131f\u0131r\u0131n alt\u0131na indirilmesi) y\u00f6nelip y\u00f6nelmeyece\u011fi ve CHF\u2019deki g\u00fc\u00e7lenmeyi s\u0131n\u0131rlamak i\u00e7in ad\u0131m at\u0131p atmayaca\u011f\u0131na \u00e7evrili kald\u0131. SNB bu ay\u0131n ba\u015f\u0131nda, CHF\u2019nin h\u0131zl\u0131 ve a\u015f\u0131r\u0131 de\u011fer kazanmas\u0131n\u0131 s\u0131n\u0131rlamak i\u00e7in d\u00f6viz piyasas\u0131na m\u00fcdahaleye (kurda a\u015f\u0131r\u0131 hareketi frenlemek i\u00e7in al\u0131m-sat\u0131m yapma) haz\u0131r oldu\u011funu s\u00f6ylemi\u015fti.  \n\n<h3>Opsiyon Stratejisi ve Faiz Fark\u0131<\/h3>  \nUSD\/CHF paritesi 0,9150 civar\u0131nda g\u00fc\u00e7l\u00fc bir g\u00f6r\u00fcn\u00fcmle i\u015flem g\u00f6r\u00fcyor. Bu tablo, ABD Merkez Bankas\u0131 (Fed) ile \u0130svi\u00e7re Merkez Bankas\u0131 (SNB) aras\u0131ndaki belirgin politika fark\u0131n\u0131 yans\u0131t\u0131yor. Bu faiz fark\u0131, ABD Dolar\u0131\u2019n\u0131n \u0130svi\u00e7re Frang\u0131\u2019na kar\u015f\u0131 g\u00fc\u00e7lenmeye devam edebilece\u011fine i\u015faret ediyor. T\u00fcrev \u00fcr\u00fcn (de\u011feri ba\u015fka bir finansal varl\u0131\u011fa ba\u011fl\u0131 enstr\u00fcman) i\u015flemi yapanlar\u0131n \u00f6n\u00fcm\u00fczdeki haftalarda paritede yukar\u0131 hareket ihtimaline g\u00f6re pozisyon almas\u0131 beklenebilir.  \n\nABD\u2019den gelen son veriler g\u00fc\u00e7l\u00fc dolar\u0131 destekliyor. \u015eubat 2026 istihdam raporu 250 bini a\u015fan yeni istihdam art\u0131\u015f\u0131na i\u015faret etti. Ayr\u0131ca T\u00fcketici Fiyat Endeksi (T\u00dcFE\/CPI, t\u00fcketici sepetindeki fiyat art\u0131\u015f\u0131n\u0131 \u00f6l\u00e7en enflasyon g\u00f6stergesi) %3,4 geldi ve Fed\u2019in hedefinin belirgin \u015fekilde \u00fczerinde kald\u0131. Bu kal\u0131c\u0131 enflasyon, Fed\u2019in yak\u0131n zamanda faiz indirimine gitmesini zorla\u015ft\u0131r\u0131yor.  \n\nPiyasalar 2025 boyunca sert faiz indirimi beklentilerinden uzakla\u015fm\u0131\u015ft\u0131. Bug\u00fcn CME FedWatch arac\u0131, Fed\u2019in bir sonraki toplant\u0131da faizi sabit tutma olas\u0131l\u0131\u011f\u0131n\u0131 %90\u2019\u0131n \u00fczerinde g\u00f6steriyor. Piyasa fiyatlamas\u0131, ilk faiz indiriminin ancak 2026\u2019n\u0131n \u00fc\u00e7\u00fcnc\u00fc \u00e7eyre\u011finin sonlar\u0131na do\u011fru g\u00fcndeme gelebilece\u011fine i\u015faret ediyor.  \n\nBuna kar\u015f\u0131l\u0131k \u0130svi\u00e7re\u2019de enflasyon daha d\u00fc\u015f\u00fck; son veri y\u0131ll\u0131k %1,3 seviyesinde. Bu durum SNB\u2019nin daha \u201cg\u00fcvercin\u201d bir \u00e7izgide (b\u00fcy\u00fcmeyi desteklemek i\u00e7in daha d\u00fc\u015f\u00fck faiz e\u011filiminde) hareket etmesine ve politika faizini d\u00fc\u015f\u00fcrmeye ba\u015flamas\u0131na imk\u00e2n tan\u0131d\u0131. Bu da d\u00fc\u015f\u00fck faizli CHF\u2019yi elde tutmay\u0131, daha y\u00fcksek faiz getiren USD\u2019ye k\u0131yasla daha az cazip hale getiriyor.  \n\nSNB, CHF\u2019nin g\u00fcc\u00fcne kar\u015f\u0131 hassas kalmay\u0131 s\u00fcrd\u00fcr\u00fcyor. 2025\u2019te kur piyasas\u0131na m\u00fcdahaleye haz\u0131r oldu\u011fu y\u00f6n\u00fcndeki a\u00e7\u0131k mesajlar\u0131 bu hassasiyeti g\u00f6stermi\u015fti. Frang\u0131n h\u0131zl\u0131 ve g\u00fc\u00e7l\u00fc de\u011fer kazanmas\u0131, merkez bankas\u0131n\u0131n m\u00fcdahalesini tetikleyebilir ve CHF\u2019deki y\u00fckseli\u015fi do\u011fal olarak s\u0131n\u0131rlayabilir. Bu da CHF a\u00e7\u0131s\u0131ndan zay\u0131f (de\u011fer kayb\u0131) g\u00f6r\u00fcn\u00fcm\u00fc destekliyor.  \n\nBu ortamda USD\/CHF al\u0131m (call) opsiyonu almak mant\u0131kl\u0131 bir strateji olarak \u00f6ne \u00e7\u0131k\u0131yor. Al\u0131m opsiyonu (belirli bir vadede, belirli fiyattan alma hakk\u0131 veren s\u00f6zle\u015fme) paritede beklenen y\u00fckseli\u015ften faydalanmay\u0131 sa\u011flar ve zarar ihtimalini \u00f6denen primle (opsiyon i\u00e7in pe\u015fin \u00f6denen bedel) s\u0131n\u0131rlar. Ayr\u0131ca y\u00fcksek faizli USD\u2019yi d\u00fc\u015f\u00fck faizli CHF\u2019ye kar\u015f\u0131 ta\u015f\u0131maktan do\u011fan \u201cpozitif ta\u015f\u0131ma getirisi\u201d (carry, iki para birimi aras\u0131ndaki faiz fark\u0131ndan gelen getiri) bu pozisyona ek destek sa\u011flar.\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\/CHF Asya\u2019da 0,7910\u2019a \u00e7ekildi: Dolar zay\u0131f, Fed indirim beklentisi \u00f6teleniyor. G\u00f6zler SNB karar\u0131nda; negatif faiz ve m\u00fcdahale sinyali CHF\u2019yi bask\u0131l\u0131yor, opsiyonda yukar\u0131 senaryosu \u00f6ne \u00e7\u0131k\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-30698","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\/30698","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=30698"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30698\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=30698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=30698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=30698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}