The U.S. currency held firm as traders expect more inflation next year and fewer interest rate cuts.
He global dollar rose this Thursday, while operators waited for more clarity on the policies proposed by the president-elect of USA, donald trumpamid an uncertain outlook for interest rates.
He dollar indexwhich measures the greenback against a basket of currencies, rose 0.39% to 107.03, while the euro was down 0.64% at $1.0476, after falling to $1.0461, its lowest level in 13 months.
Recent comments from officials of the Federal Reserve (Fed), including the president Jerome Powellhave indicated the central bank may take a slower course on its rate-cutting path, while concerns that Trump’s policies could reignite inflation have helped push the dollar to a high of 107.15, its highest level. high since October 4, 2023.
The market currently sees just a 54% chance of a Fed cut next month, down from 82.5% just a week ago, according to CME’s FedWatch tool. Additionally, a Reuters poll showed that most economists expect the Fed to cut rates at its December meeting, with shallower cuts in 2025 than expected a month ago due to the risk of further inflation by Trump’s policies.
In Uruguay, the dollar stopped its fall
Meanwhile, in Uruguay The dollar rose 0.24% compared to Wednesday and closed at 42.609 pesos in the interbank price of the Central Bank of Uruguay (BCU), thus ending its third consecutive day of decline within the range of 42 pesos.
The greenback now accumulates a monthly appreciation of 2.30% in November and an annual appreciation of 9.19%, since its price is 3.59 pesos above that registered after the close of the last exchange day of the last year.
Source: Ambito
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