He dollar Globally, it maintains most of last week’s gains this Monday, after registering its largest weekly increase since July, ending the declines recorded at the end of 2023.
He dollar index, which compares the greenback with a basket of six prominent currencies, operated at 102.53 units. The measure gained 1% last week, its biggest gain in six months, after data showed a sharp slowdown in the inflation around the world, boosting expectations of interest rate cuts by central banks, particularly by the United States Federal Reserve (Fed)and caused a rally in equities.
He euro was trading almost unchanged at $1.0934, weighed down by last week’s 0.9% drop, which ended its recent rally. He and in operated at 144.5 units per dollarafter falling sharply from 140.8 at the beginning of the year.
The combination of rising stocks and declining stock performance US treasury bonds It is usually negative for the dollarbut Simon Harvey, of Monex Europetold Reuters that there has been “a certain indigestion” in the markets since the beginning of the year.
“Basically, everyone left last year with the idea that the Fed would relax its policy aggressively and that growth conditions would improve in the rest of the world. “We have taken a bath in reality,” he noted.
The markets now value at 60% the possibility that the Fed cut rates in March, down from 90% at the end of December. US inflation data due out on Thursday could alter these forecasts again, after it was reported on Friday that US employers hired more workers than expected in December and increased wages. wages at a good pace, which points to a still resilient labor market.
In Uruguay, the dollar gained 0.78% in four days
He dollar This Friday closed a week of increases with a daily variation of + 0.26% compared to Thursday, closing at 39.325 pesos, according to the official price of the Central Bank of Uruguay (BCU). The US currency chained four exchange rate days on the rise, in line with what happened globally, which registered significant advances on most days of the first week of the year.
In the exchange market, the dollar It rose 0.17% on Tuesday, 0.18% on Wednesday and 0.17% yesterday, Thursday. The greenback accumulates a monthly (and annual) variation of 0.78% after increasing 0.30 pesos.
According to the last Economic Expectations Survey prepared by the BCUthe market expects the exchange rate to have an average price of 40.27 pesos for the next semester (as of May), so it could still appreciate more than 2.5%.
Source: Ambito
