Its price improved slightly pending the publication of economic data from the United States.
The global dollar recovers after a sharp fall at the beginning of the week.
Photo: Reuters
He global dollar rose on Wednesday as key economic data was awaited in USA and investors were awaiting a monetary policy meeting in Canada which could trigger a cycle of interest rate cuts.
Investors kept an eye on Wednesday’s U.S. services data as they await more jobs numbers later in the week. The dollar has fallen to nearly two-month lows as signs of a weakening U.S. economy on Monday reinforced the view that the Federal Reserve should cut rates sooner.
He Bank of Canada It meets one day before the European Central Bank meeting on Thursday. Canada’s annual inflation rate slowed in April to 2.7%, its lowest level in three years, prompting money markets to view a rate cut as more likely this month.
The dollar index rose 0.18%, to 104.30 units, after touching 103.99 the day before, its lowest since April 9.
“The most important thing is that markets are pricing in the Fed to lower rates almost as much as the ECB,” said Themos Fiotakis of Barclays. “The divergence in fundamentals is not appreciated. However, the dynamics of growth and inflation will make the Fed much less cautious than other central banks.”
The dollar rose 0.37% in Uruguay, its highest value since mid-April
At the local level, andl dollar rose 0.37% compared to Tuesday, closing at 39,069 pesos, according to the official price of the Central Bank of Uruguay (BCU)thus reaching its highest value since mid-April and returning to the range of 39 pesos.
The US currency has accumulated a variation of 0.71% so far in June, and a variation of 0.12% at an annual level, since its price is 0.05 pesos above that registered after the close of the last day. exchange rate from last year.
Source: Ambito
