The US currency maintains the momentum of market expectations for moderate monetary policy and growth in the US economy.
He global dollar remains near a two-year high in the early hours of Friday, amid bets that the gap between growth in USA and in the rest of the world it will expand, and that chinese values They suffered their biggest weekly drop since 2022.
He dollar index —which measures the performance of the greenback in relation to a basket of six other internationally relevant currencies— reached its highest level since November 2022 on Thursday and remained close to 109 units; while the euro fell to its lowest level in two years, and the pound and yen hovered around multi-month lows.
The U.S. currency rallied late last year as investors bet that the president-elect’s policies donald trump would boost growth and inflation, meaning fewer additional U.S. rate cuts. Federal Reserve (Fed) and higher yields of United States Treasury bondswhile European central banks prepare to continue cutting rates.
While Treasury yields have moved away from their late-December highs (the benchmark 10-year Treasury yield stood at 4.549%, down 2 basis points on the day), the dollar has continued to rise due to concerns about growth elsewhere.
“Apart from the implications of protectionism expected under the Trump administration, we believe that pressure is building due to the increase (in gas prices) caused by the closure of the Ukraine”, explained to Reuters Francesco Pesole, currency analyst ING.
The dollar opened the year lower in Uruguay
In Uruguay, meanwhile, the dollar It closed with a drop of 0.38% and, after a year of clear growth, was quoted at 43,900 pesos on the first exchange day of 2025, according to data from the Central Bank (BCU).
The US currency thus operated contrary to what happened with the global dollar, which rose 0.77% and reached 109.38 units, in the heat of last year’s strong profits and expectations about the government of the president-elect of United States, Donald Trump, which will take office on the 20th of this month.
Source: Ambito
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