He global dollar rose on Monday as traders await monetary policy decisions by the United States Federal Reserve (Fed) Regarding interest rates; Uruguay, Meanwhile, the greenback fell 0.05% at the end of the week.
He dollar indexThe U.S. dollar, which compares the greenback to a basket of six currencies, gained 0.22 percent to 104.59 units. The euro fell 0.35 percent to $1.08175 and the pound was down 0.31 percent at $1.2827.
The dollar was steady at 153.80 yen, reversing an earlier decline of as much as 0.49% that saw it hit 153 at one point. Markets have focused on the yen’s gains over the past week amid growing speculation about a BoJ rate hike that helped boost the Japanese currency.
Waiting for the Fed
It is widely expected that the US Federal Open Market Committee (FOMC) leave rates unchanged this week and cut them by a quarter point in September.
The Fed’s decision poses a risk to the dollar/yen pair, said Kristina Clifton, senior economist and chief currency strategist at Commonwealth Bank of Australia. “Any hint of easing by the FOMC could push USD/JPY lower significantly, but a hawkish stance by the FOMC will likely have little impact,” she added.
The calendar for publishing corporate results in USA This week’s stock market is packed with heavyweights, including Amazon, Apple, Meta and Microsoft. Currency traders will also have to contend with not only the BoJ and the Fed on Wednesday, but also the Bank of England a day later.
The dollar closed lower in Uruguay
This Friday the greenback fell 0.05% compared to Thursday and closed at 40.261 pesos, according to the exchange rate. Central Bank of Uruguay (BCU), so it completed the week above 40 pesos, but without managing to hold on to its peak from last Friday, its highest value in more than 20 months.
Despite this setback, the US currency maintains an appreciation of 0.68% so far this month and, in comparison with the close of 2023, itl dollar accumulates an improvement of 3.18%, remaining above the value projected by the market, of 40.08 pesos.
The decline was reflected in what happened globally, with the dollar index, which measures the performance of the US currency against a basket of six currencies, also falling by 0.05%, remaining at 104.38 points
Source: Ambito
