The global dollar operates stable awaiting a decision from the Federal Reserve

The global dollar operates stable awaiting a decision from the Federal Reserve

He global dollar was stable on Monday, as investors waited for new clues to help chart the path of interest rates in USA After the cautious comments of the authorities of the Federal Reserve (Fed)even though the inflation showed signs of cooling.

He dollar index, which compares the US currency against a basket of six major currencies, was trading slightly higher at 104.51 points. It has fallen about 2% since hitting a more than five-month high in April.

On Monday four members of the Fedincluding the president of the Atlanta Fed, Rafael bostic. Markets will also focus on the minutes of the latest Federal Reserve meeting, which will be released on Wednesday.

He euro It was little changed at $1.0865, near the nearly two-month high of $1.0895 hit last week. So far in May, the euro has risen 2%, boosted by the fall of the dollar following weaker growth and inflation data in the United States and the recovery of the euro zone economy.

Last week, U.S. consumer prices rose less than expected in April, leading markets to forecast a 50 basis point cut in U.S. interest rates. Federal Reserve this year.

However, several officials of the Fed They were cautious about when rates might drop, leading markets to settle just below the 50 basis point mark.

The pound sterling reached a two-month high of $1.2711, and was just below that level pending the US inflation report. United Kingdom which will be published on Wednesday.

He japanese yen It remained stable at 155.73 units per dollar, with operators attentive to signs of government intervention. The Japanese currency has moved in narrow ranges in the last two days, after a tumultuous start to May in which it is suspected that Tokyo has intervened in the currency market to prop up the yen.

Expectation in the Uruguayan exchange market

The local exchange market opens the week with expectation after the dollar fell 0.73% on Friday, closing at 38.497 pesos and cutting in a single day almost the entire increase accumulated in the previous six days

With this decline, the US currency closed the week in negative territory and cut its rise so far this month to 0.47%. Meanwhile, if compared to the last business day of 2023, the dollar depreciation was 1.35%, giving rise to criticism regarding the problem of exchange delay.

Source: Ambito

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