Slight decline in the dollar globally, will the trend continue locally?

Slight decline in the dollar globally, will the trend continue locally?

He dollar fell slightly on Monday, at the start of an action-packed week for markets, with the British budget, a meeting of the European Central Bank (ECB), employment data in USA and important political moments both in China like in Washington.

Attention was also focused on the bitcoinwhich hit a more than two-year high above $64,000 after a quiet weekend, driven higher in recent weeks by large flows into ETFs. cryptocurrenciesSpecially in USA.

He euro was trading at $1.08455, the pound sterling rose 0.13%, to $1.2670, and the and in fluctuated around 150 units per dollar.

He dollar indexwhich benchmarks the greenback against a basket of six major currencies, was steady at 103.78, hovering closely in the lower half of its 103.43-104.97 range last month.

“It’s going to be an intense week, with ‘risk events’ in the United States and Europe, which could undoubtedly trigger some rebound in the volatility from current low levels,” said Lee Hardman, currency analyst at MUFGto Reuters.

In USAthe president of the Federal Reserve (Fed), Jerome Powellwill testify before lawmakers on Wednesday and Thursday, and on Friday the payroll report will be released, with forecasts pointing to a still solid increase of 200,000 after the spectacular increase of 353,000 in January.

This week also marks the “Super Tuesday“of the presidential primaries in USAwhile on Wednesday the British budget will be published, and the finance minister, Jeremy Hunthas attempted to dampen speculation about large tax cuts prior to the elections. A day later the European Central Bank meets.

In Uruguay Attention is focused on the closing of the second exchange day of the month of March. Friday, the first, was marked by the largest daily drop in the dollar in more than a month, which took it back to the 38 peso range.

He dollar It fell 0.31% and not only marked its third consecutive day of decline but also its largest daily decline since January 22, when it fell 0.79%. In this way, the US currency was quoted at 38,927 pesos, according to data from the Central Bank of Uruguay (BCU), also registering the lowest value since last January 24, when it closed at 38,707 pesos.

Source: Ambito

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