After breaking through the $4,000 barrier the previous day, the price of the dollar in Colombia increased its gains on Thursday in the local market.
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According to the Stock Exchange, The foreign currency closed at an average price of 4,036, that is, it rose 25 pesos compared to the TRM of the day which was $4,011.
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Emerging market currencies were mixed in recent trading after U.S. retail sales rose by the most in three months, bucking a trend that showed a gradual slowdown in consumption in the world’s largest economy and dampening risk appetite, Bloomberg reported.
The MSCI gauge of developing-country currencies was flatbut Latin American currencies – including the Brazilian real and the Mexican peso – were among the biggest gainers.
The dollar strengthened after the data was released as traders assess the path ahead for US borrowing costs.
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“Markets were just beginning to internalize the idea that the Fed could cut rates in September, but today’s data at least provides reasons for it to possibly reconsider a later cut,” said Brendan McKenna, emerging markets currency strategist at Wells Fargo & Co.
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With information from Bloomberg
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