He dollar hit its highest since early November against a basket of six major currencies on Monday and sent the and in to its lowest level since 1990, after retail sales in The United States will increase more than expected in March.
Retail sales rose 0.7% last month and data for February was revised up to show a rebound of 0.9%, instead of the 0.6% previously announced.
He dollar index It reached 106.16 units, its highest level since November 3, and later advanced 0.07%, to 106.03.
He dollar has been revalued because the inflation and strong growth have led investors to delay expectations about when the Federal Reserve (Fed) to cut interest rates. Furthermore, the US central bank is now expected to make fewer cuts than before.
The yen has been affected in particular by the strength of the dollar and the large rate differential between both countries, amid warnings from Japanese monetary authorities that they could intervene to shore up the currency. The greenback gained 0.69%, to 154.32 units.
He euro was trading little changed at $1.0643, after recording its biggest weekly percentage drop since the end of September 2022, after the European Central Bank (ECB) left the door open to a rate cut in June. The pound sterling It appreciated 0.22%, to $1.248.
Investors are also watching the escalation of tensions in Middle Eastwhich if they get worse will probably benefit the dollar and to Swiss franctwo refuge coins.
In Uruguayhe dollar closed, last Friday, its second week on the rise, remaining at 38,788 pesos for sale in the interbank of the BCU. So far in April it has accumulated an appreciation of 3.29%, reducing the decline for the year to 0.6%.
The local exchange market accompanied the international one last week and it is expected that the behavior will be repeated in the coming days, analysts agreed, precisely hand in hand with the maintenance of the restrictive cycle of the Fed.
“Until now we see a market aligned with what is happening in other emerging countries, with what is happening with the dollar in the world and in the country that issues the dollarUnited States,” reflected Ángel Urraburu, president of the Montevideo Stock Exchange.
Source: Ambito
