The U.S. currency remains near its peak as traders expect more inflation next year and fewer interest rate cuts.
He global dollar remained stable in the early hours of Thursday, as traders waited for more clarity on the policies proposed by the president-elect of United States, Donald Trump, amid an uncertain outlook for interest rates and a new record for the bitcoin, which was close to $100,000.
He dollar index — which measures the greenback’s performance relative to a basket of six other internationally relevant currencies — was steady at 106.55, and not far from last week’s one-year high of 107.07. “The United States is still the main driver, actually. It seems a bit risk averse one morning. The yen is the biggest winner so far, and I think it’s for this week, with Ukraine front and center right now,” the US chief strategist told Reuters. IG, Chris Beauchamp, in reference to an escalation in the conflict between Russia and the country governed by Volodymyr Zelensky.
The US currency has also been helped by strong swings in expectations about interest rates in that country. The market currently sees only a 54% chance of a rate cut. Federal Reserve (Fed) next month, down from 82.5% just a week ago, according to the tool FedWatch of CME. 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 the policies of Trump.
He euro, one of the main victims of the rise of dollar After the election, it fell another 0.1% to $1.053275. At the same time, European leaders and policymakers are already grappling with the possible ramifications of Trump’s proposed tariff increases, while political uncertainty in the region’s largest economies -Germany and France- It adds to that mix.
For his part, the bitcoin has been on a dizzying rally in recent weeks amid speculation that trump will create an easier regulatory environment for cryptocurrencies – hit an all-time high of $97,902 on Thursday, supported by a report that the president-elect’s social media company was in talks to buy the cryptocurrency trading firm Bakkt. It was last up 2.75% at $97,070.
In Uruguay, the dollar continues to decline
Meanwhile, in Uruguay he dollar fell 0.22% compared to Tuesday and closed at 42,509 pesos in the interbank price of the Central Bank of Uruguay (BCU), thus chaining its third consecutive day of decline and falling back to the middle zone in the range of 42 pesos.
The us currency It now accumulates a monthly appreciation of 2.06% in November and an annual appreciation of 8.94%, since its price is 3.49 pesos above that registered after the closing of the last exchange day of last year.
Source: Ambito
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