The exchange market operates with tension after the statements of Donald Trump and the clarifications of Minister Luis Caputo. The intervention of the US Treasury raised doubts about a possible post-election devaluation, while analysts warn that the dollar is going through a stage of high volatility.
He dollar refocuses the attention of the market this Wednesday October 15standing at $1,400 for purchase and $1,420 for sale, while the gap with the official exchange rate remains around 4.4%.
The informal currency reflects the exchange rate volatility that was unleashed after the statements of Donald Trump, who warned that the United States will not be “generous” with Argentina if Javier Milei loses the legislative elections. The comment generated a quick reaction: financial dollars —MEP and CCL—they climbed up 3.2%reaching the area of $1,450while the wholesaler rebounded $11 until $1,360 and the retail advanced to $1,385.
In this context, the city operates cautiouslywaiting for the exchange market reaction after the clarifications from Minister Luis Caputo and of his own trumpin anticipation of new announcements from Washington.
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The dollar is going through a period of high volatility
Until before the intervention of the US Treasury, the expectation of a devaluation after the elections was practically a market consensus. However, the sale of dollars by the organization in charge of Scott Bessent, and the fact that he even opened an account to operate in the futures market, sparked concern. doubt about whether there will be a devaluation after October 26.
“In colloquial terms, few would want to ‘get in front’ with the Treasury of the country that owns the dollar printing machine. However, It is difficult to imagine that Washington’s assistance has as its main objective to delay the exchange rate. It is worth remembering that the International Monetary Fund asked the country to purchase reserves, which suggests that the current level of the exchange rate could be transitory,” explained the analyst and financial advisor. Mariano Monferini.
“In that sense, it would not be strange if in the months after the elections we see some adjustment of the official exchange rate. For investors, dollarizing at today’s prices ($1,400, approximately) could be a reasonable strategy if hedging is sought,” he added.
For its part, Pedro Moreyradirector of Guardian Capital, indicated that the Minister of Economy Luis Caputo ruled out dollarization, ratified the continuity of the band scheme and highlighted that the US will continue buying pesos, bonds and futures, supporting liquidity and business credit.
Therefore, “For conservative profiles, it may be advisable to take refuge in foreign currency and lower risk assets, such as corporates.
Source: Ambito
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