The attention of global traders is divided between the Japanese intervention on the yen and the movements in the United States, both electoral and monetary policy.
He global dollar recovered some of the value lost during the Monday session in the early hours of Tuesday, with the attention of operators divided between the signals of the United States Federal Reserve (Fed) which point to a possible first cut in interest rates in September, on the one hand; and on the other, to a new intervention by the Japanese authorities with the aim of preventing the and in keep falling. In Uruguay, Meanwhile, the dollar is strengthening in the 40 peso range.
He dollar The Japanese yen rose 0.3% against the Japanese currency to 158.44 yen. It traded around 162 yen last week before suddenly falling to a low of 157.16 on Thursday. The moves are in response to a possible intervention by the Japanese yen. Tokyo to shore up the national currency, data from the Bank of Japan released on Tuesday, which showed that the Japanese government may have spent 2.14 trillion yen ($13.5 billion) on the money market on Friday.
Combined with the estimated amount spent the day before, it is likely that Japan bought nearly 6 trillion yen through intervention last week.
In contrast, movements in Europe were fairly quiet, as traders were nervous about placing too large bets on the pound sterling before the crucial data of inflation British to be published on Wednesday; and on the euro, with a meeting of the European Central Bank (ECB) Thursday.
In this sense, the market expects the ECB to maintain rates, but attention will focus on the comments of its president, Christine Lagarde, on the timing of the next rate cut. On the US front, the comments by the president of the Fed, Jerome Powellunderpinned expectations that the cuts in the interest rates start in September.
Politics also generates its effects on the markets: cryptocurrencies, along with the shares of companies that could benefit from a presidency of Donald Trump, jumped on Monday after an assassination attempt on the Republican candidate boosted expectations that he would win the November election. In the early hours of Tuesday, however, the bitcoin and the ether were slightly down.
The dollar strengthens at $40 in the Uruguayan exchange market
In Uruguay, meanwhile, the dollar rose 0.36% compared to Friday, closing at 40.145 pesos, according to the official exchange rate. central bank (BCU), opening the week on the rise after two consecutive increases and strengthening in the 40 pesos range.
The US currency has accumulated a monthly variation of 0.39% and an annual variation of 2.88%, since its interbank rate is 1.12 pesos above the one registered after the closing of the last exchange day of last year.
Source: Ambito
