He dollar opens the week on the exchange market in Uruguay after operating stably for the last seven days, remaining in the 40 pesos range, above analysts’ expectations for the exchange rate.
On Friday the interbank dollar closed at 40.331 pesos, according to the exchange rate. Central Bank of Uruguay (BCU), completing the week on the rise, some 0.83 cents above the forecasts of the Economic Expectations Survey for this month.
On a monthly basis, the US currency maintains a positive variation of 0.14% while in the annual accumulated appreciation is 3.35%.
On the reference board of the Republic Bank (BROU), he dollar retail is offered this Monday at 39.05 pesos for purchase and 41.55 pesos for sale. For its part, the preferential value of the eBROU Dollar It is at 39.55 pesos for purchase and 41.05 pesos for sale.
Global dollar hits seven-month low
He dollar He stepped back in front of the yen and the euro as traders brace for dovish signals from the minutes of the Board meeting United States Federal Reserve (Fed) and the president’s speech, Jerome Powellin Jackson Hole.
Minutes from the Fed’s July meeting, due on Wednesday, and Powell’s speech on Friday are likely to be the main drivers of the currency in a week that will also see inflation data released. Canada and Japan and readings of the US purchasing managers’ index, the Eurozone and the United Kingdom.
Against the yen, the dollar fell about 0.9% to 146.32, after earlier falling below 146.
The euro rose 0.1% to $1.1036, after touching its highest level of the year at $1.1051 earlier in the day. pound sterling rose to a one-month high of $1.2975 and settled at $1.2968.
He dollar indexwhich measures the U.S. currency against a basket of other major currencies, fell to a seven-month low of 102.15.
Analysts attributed the dollar’s broad weakness to the possibility of a further narrowing of the gap between interest rates in the United States and Japan. The governor of the Bank of Japan (BoJ), Kazuo Uedadiscussing before Parliament the central bank’s decision last month to raise rates.
“The relative rates narrative certainly supports a lower dollar,” said Colin Asher, senior economist at Mizuho. Powell will likely reiterate that rate cuts are coming fairly soon, and Ueda will most likely say that, assuming the base case continues to hold, we would expect to raise rates in Japan.
Source: Ambito
