He dollar in Uruguay It is listed again this Tuesday after closing last week with a rise of 0.33%, remaining at 38,506 pesos, after going through days with downward trends that took it to the range of 37 pesos; Meanwhile, the global market is waiting for the announcements of the United States Federal Reserve.
After a long weekend, crossed by a Monday working holiday, the upward trend is expected to continue. However, it is necessary to remember that, so far this month, the exchange rate has accumulated a growth of 2.54% and, if compared to the end of 2023, the depreciation of the US currency is 1.32% .
Regarding the other quotes, the closing of the Uruguayan Electronic Stock Exchange (Bevsa) It was 38,530 pesos, while the maximum price was also 38,550 pesos, and the minimum was 38,450 pesos. On this day, the number of transactions was a total of 47, with a transaction amount of more than 24 million dollars.
For its part, the crypto Tether (USDT)1 to 1 parity with the dollarwas quoted today from 41.45 pesos to 42.77 pesos in the Binance peer-to-peer (P2P) market, while the price of the dollar prex It was at 38.60 pesos for purchase, and at 38.60 pesos for sale.
Eyes on the Fed
Looking to the future, the value of dollar in Uruguay will be strongly linked to the decisions of the United States Federal Reserve (Fed) and its restrictive policy, according to the expectations of the Uruguayan market.
In that sense, the markets consider that the United States Federal Reserve (Fed) will be one of the last major central banks to cut rates, and currently value the probability that its first rate cut will occur in September at 80%. .
Investors will have another chance to assess the strength of the U.S. economy this week, with data from the Gross Domestic Product of the first quarter on Thursday and the expense ratio of personal consumption prices (PCE), the preferred measure of inflation Federal Reserve, on Friday.
Global markets, attentive to Tokyo
The yen hit multi-year lows against the dollar and the euro this Tuesday, keeping investors on alert ahead of the meeting of the Bank of Japan This week.
He euro hit 165.62 yen, its highest level since 2008, after data showed business activity in the area euro expanded at its fastest pace in almost a year, mainly due to a recovery in services. The dollar rose to 154.87 yen, its highest level since 1990 and approaching 155, a level that many participants consider the new trigger for intervention by the Japanese authorities.
The Japanese Finance Minister, Shunichi Suzuki, declared that last week’s meeting with his counterparts from United States and South Korea has laid the groundwork for Tokyo to act against excessive movements in the yen, the strongest warning yet about the possibility of intervention.
However, there are doubts about whether Tokyo will act so close to the BOJ’s two-day monetary policy meeting that begins on Thursday.
Source: Ambito
