The US currency was moving positively after four negative days, as traders’ bets begin to moderate.
He global dollar recovered some of the ground lost last week and after renewed bets by operators on cuts in interest rates by the United States Federal Reserve (Fed) during this year. In Uruguay, Meanwhile, the currency improved after two consecutive falls.
He dollar rose slightly on Tuesday globally, after the markets received the impact of the non-farm payrolls —175,000 new jobs, well below the expectation of 243,000 that was managed in the hours prior to the publication—which took the bets of a first cut in interest rates in September from 63% to 78%; at the same time that the operators insisted on at least two signs of relaxation of contractionary monetary policy in the remainder of the year, condensed in the last quarter.
In this way, the dollar index —which measures the performance of the US currency against a basket of six international currencies— rose 0.1% to 105.23 units, after having fallen four consecutive days, its longest streak of losses since the beginning of March and that it touched 104.52 units on Friday.
So far in 2024, the dollar has risen almost 4%, but last week it plummeted almost 1%, despite the fact that the authorities of the Fed They insist that there will be no precipitation when rates are lowered, although it is something that will happen “eventually.”
In Uruguay, the dollar rose and continues with ups and downs in the range of 38 pesos
Unlike what happened on Monday with the currency globally, in Uruguay he dollar It ended a streak of two consecutive days of decline with a significant increase of 0.72% in the local exchange market.
With this behavior, the greenback closed at 38,353 pesos, according to the official price of the Central Bank of Uruguay (BCU), and recovered the value lost in the previous days. In any case, the ups and downs They continue to be protagonists of the performance of the exchange rate during its stay in the range of 38 pesos; while its monthly balance, so far, is practically zero.
On the contrary, so far this year there has been an accumulated depreciation of 1.71%, after falling 0.67 pesos since the last exchange day of 2023; which keeps alive the concerns and claims regarding the exchange delay and the loss of competitiveness.
Source: Ambito
