He and in continued its advance against the dollar to the point of touching two-month highs in the early hours of Wednesday while currencies related to the trading of raw Materials fell due to variations in prices and demand for these products. Uruguay, Meanwhile, the US currency recovered after the sharp drop of the previous day.
The dollar/yen parity The yen fell nearly 1 percent on Tuesday and was down another 0.7 percent on Wednesday to a low of 154.28 per dollar since mid-May. The yen is the G10 currency that has performed best against the U.S. dollar so far in July.
Meanwhile, commodity-related currencies fell to multi-week lows on Wednesday as commodity prices fell. In this scenario, the Canadian dollar The dollar hit a three-month low of 1.38 units against its US counterpart, awaiting a likely second rate cut in as many months by the Fed. Bank of Canada later in the day.
He Australian dollar fell 0.5% against the greenback and was trading at 0.6583 dollars. And the New Zealand Dollar fell 0.6% to a near three-month low of $0.5914.
These movements were due to the fall in commodity prices. industrial metals, such as iron ore and copper, which hit three-and-a-half-month lows due to the gloomy outlook for the Chinese demand and the risk aversion on the stock markets after some disappointing results in USA.
“We are seeing lower demand in China and Asia in general, and the Kiwi and Australian dollars are being dragged down,” he explained. Jason Wong, of BNZ in Wellington, to Reuters.
He euro, The dollar was also affected by weak business activity data and fell 0.1% to $1.10842, and 0.14% against the pound to 83.99 pence, amid a more optimistic outlook. United Kingdom.
In Uruguay, the dollar rose again
In Uruguay, Meanwhile, the dollar rose 0.14% compared to Monday and closed at 40.173 pesos, according to the exchange rate. Central Bank (BCU), recovering value after the sharp drop of the previous day and firming above 40 pesos.
In this way, the greenback achieved an increase of 0.46% so far this month and, after a sustained four-month upward path, the dollar appreciated by 2.95% compared to the last day of 2023.
Source: Ambito
