He dollar strengthens against the currencies of the countries of the region, pressured in recent days by global risk aversion, amid comments from the Federal Reserve (Fed), ups and downs in the presidential campaign of USA and concerns about the economic future of China.
In this context, the Uruguayan Peso is close to its highest value of the year and, although there was no activity in the exchange market today due to the holiday, The exchange rate is expected to be affected by the strength of the global dollar.
For the moment, the dollar It is at 40,284 pesos in the local exchange market, according to the exchange rate. Central Bank of Uruguay (BCU), after a 0.36% rise on Wednesday. The bill is thus just cents away from its highest level of the year, with a rise of 0.74% so far this month and 3.23% in the year-to-date.
The weakness of the real and the blue dollar rate
One of the main references for weight is the real. In this regard, fiscal concerns continue at the domestic level. Brazil, which put pressure on the currency and it fell by 1.89% on Thursday, to 5.5887 units per dollar. Thus, in two days, the local currency lost 2.94%.
In Argentina, The peso operated with a slight decline, while the Dolar blue closed stable at 1,455 pesos, so the exchange rate gap with the official rate remained at 58%.
In addition, the Mexican peso fell 1.57% to 17.9696 per dollar; Chilean peso fell 1.89% to 943.30/943.60 units per dollar; Colombian peso fell 1.23% to 4,045 units per dollar and the sun, in Peru, depreciated by 0.56%, to 3.740/3.744 units per dollar.
The US campaign and the Fed’s decisions
In the midst of this strengthening of the dollar, There are strong expectations that the Federal Reserve cut interest rates in September, which did little to support emerging and regional assets.
Another aspect to take into account is that, after the attack on Donald Trump and the oversights of Joe Biden On the campaign trail, White House officials believe the former House speaker Nancy Pelosi supported the congressman’s call Adam Schiff for the president to step aside in the presidential race.
In addition, the Washington Post reported that former US President Barack Obama told allies in recent days that the likelihood of a Biden victory in the election has dropped considerably and he believes the president should seriously consider the viability of his candidacy.
Finally, raw materials such as copper have fallen due to weak figures China, the world’s second largest economy and the main buyer of these products, affecting regional currencies, mainly an exporter of commodities.
Source: Ambito
