He global dollarrose this Monday, recovering some ground after falling for three consecutive weeks due to market bets that the United States Federal Reserve (Fed) will soon cut interest rates.
He euro fell 0.1%, to $1.0876, while the dollar index, which compares the greenback with a basket of six prominent currencies, gained 0.19%, to 103.33 units. “I think U.S. rate expectations have gone too far and will ease more in December than elsewhere,” said Colin Asher of Mizuho in London, to the Reuters agency.
In November, the euro rose 3% against the dollar and hit its highest level since August, above $1.10, when data showed U.S. inflation was cooling rapidly. The dollar index lost 3.1% in November, its biggest monthly drop in a year.
“November was a very bad month for him dollardriven in part by expectations of a more relaxed policy of the Fed” Asher said. “We see some room for a reversal later in the year,” he noted.
The pound sterling fell 0.27% to $1.2675, while the Australian dollar fell 0.44% to $0.6646. The US currency also advanced 0.31% against the Swiss franc, to 0.8723 units. He dollar It barely changed against its Japanese pair, at 146.69 yen, after falling to 146.24 in the Asian session, its lowest since mid-September.
In the exchange market Uruguayhe interbank dollar It returned to the 38 peso range on Friday, closing at 38,974 pesos, after a decrease of 0.37% compared to Thursday. With this new decline, the US currency maintained the inertia of November, where it signed its first monthly drop in five months, reaching a depreciation of 2.74% so far this year, when compared to the end of 2022.
Source: Ambito
