The dollar consolidates its fall, while globally attention focuses on the Fed

The dollar consolidates its fall, while globally attention focuses on the Fed

He dollar in Uruguay It is still unable to rebound despite the relatively good international context around the US currency, and is getting closer and closer to the range of 38 pesos in a week with definitions that could be key for the local exchange rate.

He dollar fell again and sets off the alarms once again, not only because of the loss of competitiveness constant that the national economy faces, but because of the impossibility of the US currency to replicate at the local level the movements that occur at a global level.

In that sense, and despite the fact that the currency remained stable internationally, in the local exchange market it fell a new 0.07% and closed on Tuesday at 39.055 pesos, according to the price of the Central Bank of Uruguay (BCU).

In this way, the dollar Not only does it continue to approach the range of 38 pesos – a place where it has not been since last January 26 – but it continues to accumulate a decline during the second month of the year, which already reaches 0.28%. However, and thanks to a meager positive result in January, the annual variation remains in the green with a growth of 0.08%, which leaves the currency virtually “ironed.”

The global dollar waiting for the Fed minutes

He dollar was stable on Wednesday, as traders awaited the minutes of the latest monetary policy meeting of the United States Federal Reserve (Fed) for more clues on the central bank’s rate outlook.

Last week’s data showed a inflation in the United States elevated, prompting investors to reduce bets that the Fed would start cutting rates in March. Markets currently expect the first cut to occur in June, which compares to expectations at the beginning of the year for a first cut in March.

Minutes from the Federal Reserve’s latest monetary policy meeting, due to be released later, will clarify the outlook for interest rates in the world’s largest economy.

He dollar indexwhich measures the currency’s performance against a basket of six peers, rose 0.1% to 104.17, after falling 0.25% on Tuesday as global bond yields fell.

He euro fell 0.1%, to $1.0795, pending a survey on consumer confidence from the Euro zone.

The pound sterling fell 0.1% to $1.2604 and was some distance from Tuesday’s one-week high of $1.2668, having retreated from that level following comments from the governor of the Bank of EnglandAndrew Bailey, who said he was comfortable with investors betting on interest rate cuts this year.

He yuan China rebounded to near a nearly three-week high of 7.1885 units per dollar, helped by a certain rebound in its battered equity markets. Its overseas counterpart hit a three-week high and was up 0.1% at 7.1971 per dollar.

Source: Ambito

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