The currency has been rising for five consecutive days locally, but the decline in US inflation may put a stop to the bullish streak.
He dollar in Uruguay continues his bullish streak with five consecutive positive days while the expectations of inflation in USA They take their foot off the accelerator of the currency worldwide.
He dollar rose for the fifth consecutive day and chained a positive variation of 0.04% to reach a price of 39,339 pesos, according to official data from the Central Bank of Uruguay (BCU).
Although the value is still far from market expectations that, in the last Economic Expectations Survey (EEE) They indicated a median price of 39.5 pesos by the end of 2023; The timid positive trend, in line with the international scenario, is a good sign — which, in any case, is taken with caution and moderation.
In this way, the US currency is moving in 100% positive territory so far in 2024, and accumulates a monthly – and annual – variation of 0.81%, with an increase of 0.32 pesos in January.
A pause in the global dollar
Meanwhile, at the international level, the dollar moves stable after a small decrease motivated by the cooling of inflation expectations in USA. In that sense, the dollar index closed yesterday at 101,928 units, falling 0.13% after having appreciated 1% last week; However, today it moves with bullish values.
The brake on the rise of global dollar responds to the decline in inflation expectations of American consumers – at the lowest level in the last three years – and the reaffirmation by operators in their bets on cuts in interest rates of reference by the Federal Reserve (Fed) for this year.
In that sense, futures point to cuts of around 135 basis points by the Fed during 2024, with an approximate 60% probability that it will begin to lower rates in March.
This week, meanwhile, the official report on the inflation in the United States, from which it is expected to have a clearer idea of the room for maneuver that the Central Bank will have to reduce rates, which are at their historical maximum.
Source: Ambito
