Traders increase their confidence that the US currency will continue to have good levels of profitability.
He dollar global is heading to close a new week of rise after the various news related to world central banks and interest rates, which generated surprise among international operators. In UruguayMeanwhile, the US currency plummeted more than 1% and fell to the range of 37 pesos.
The week will close with a very positive balance for the dollar globally, as well as for other assets sensitive to interest rates such as gold and stocks, which reached all-time highs in recent days. The change in the outlook for rates was key to this exceptional performance, which will leave ample profits for investors who properly read market movements.
In that sense, central banks were protagonists, with a large number of decisions, some more expected than others. The increase in rates by the Bank of Japan, which ended its negative rate policy for the first time in eight years, was the most surprising; although the cut in Swiss It also had an unexpected impact, and made evident the gap between the United States Federal Reserve (Fed) and their global counterparts in interest rates.
In this scenario, added also to the expectations of relaxation of monetary policy in China that put pressure on the local currency, the dollar grew compared to the basket of six world currencies. For example, it grew 0.7% compared to yuan and 1.6% compared to and in. He also improved his position against the eurowhich fell 0.4%, and compared to the pound sterlingwhich lost 0.6% due to the maintenance of rates by the Bank of England.
He bitcoinmeanwhile, is about to record its biggest weekly drop since January, as stock markets cryptocurrencies They have taken a step back after the strong rebound this week, although their price will continue until Sunday. In that sense, the cryptocurrency fell 0.2% on the day, to $65,300.
This is also a behavior that responds to the greater confidence of the operators that the dollar will continue to have good levels of profitability, in the face of the Fed’s insistence on expecting better profit numbers. inflation before moving forward with the first cuts, which could be after June.
In the local exchange market, the dollar fell 1.02% on Thursday compared to the previous day and was quoted at 37,706 pesos, according to data from the Central Bank of Uruguay (BCU)so that it returned to the range of 37 pesos, in which it had not operated since the beginning of September of last year.
The banknote is going through a more than negative March, with a depreciation of 3.43%, while in the accumulated figure for 2024 the decrease is 3.37%. Thus, the dollar broke an important symbolic barrier and the exchange delay which has been the subject of criticism from the agro-export sector, but also from opposition leaders.
Source: Ambito
