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The dollar fell again in the run-up to the Fed meeting

The dollar fell again in the run-up to the Fed meeting

He dollar fell 0.17% compared to Friday and closed at 38,389 pesos, according to the price of the Central Bank of Uruguay (BCU), so that the US currency maintains its negative streak and is approaching the range of 37 pesos.

The bill seems to leave behind the trend towards a “flat” price and has fallen 1.69% so far this month, contrary to what is happening internationally. Meanwhile, if compared with the end of 2023, the dollar accumulates a depreciation of 1.62%.

On the reference board of the Republic Bank (BROU)he dollar Retail ticket was offered at 37.25 pesos for purchase and 39.65 pesos for sale. For its part, the preferential value of eBROU dollar It was at 37.75 pesos for purchase and at 39.15 pesos for sale.

The closing price of the day in the Uruguayan Electronic Stock Exchange (Bevsa) It was 38,430 pesos, while the maximum price was 38,550 pesos, and the minimum was 38,400 pesos. On this day, the number of transactions was a total of 67, with a transaction amount of 32.6 million dollars.

The crypto Tether (USDT)1 to 1 parity with the dollarwas quoted today at an average of 41.75 pesos for online purchases through a bank or card, and from 40.50 pesos to 46.60 pesos in the Binance peer-to-peer (P2P) market.

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The global dollar rises while waiting for the Fed meeting

The US currency rose internationally, with an improvement of 0.14% for the dollar index, within the framework of a key week, where the expectation remains for the meeting of the authorities of the United States Federal Reserve, which will take place this Tuesday and Wednesday.

In turn, there will be meetings of authorities from different central banks and it is expected that the Bank of Japan will put an end to negative interest rates. Additionally, there will be definitions in Great Britain, Australia, Norway, Switzerland, Mexico, Taiwan, Brazil and Indonesia.

So far this year, the global dollar added close to 2%, as the US economy shows better-than-expected performance, so investors faced bets that the Fed will cut rates quickly and deeply in 2024.

In this framework, Wednesday will be key, when attention will focus on whether those responsible for the Fed modify their forecasts rate cuts for the year, which so far consist of a relaxation of 75 basis points in 2024.

Source: Ambito

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