economy and politics

Dollar gains more than 80 pesos in the week, adding a new increase this Friday

Dollar starts the week down but above $4,800

After a week of high volatility due to the geopolitical conflict in the Middle East and uncertainty about the direction of interest rates in the world's main central banks, which took the dollar on a 'roller coaster' of strong ups and downs, The US currency closed this Friday in Colombia above $3,900.

(Read: What was the reason for the dollar's change in trend and what ended its 18-month bad streak?).

According to the Stock Exchange, The foreign currency closed at an average price of $3,936, that is, it rose 18 pesos on the day. compared to the Representative Market Rate which was $3,918.

For its part, during the week, The currency gains 72 pesos, after starting at $3,864 on Monday.

(See: World stock markets, with disparate behavior after offensive escalation in the Middle East).

Iran's attack on Israel last Saturday boosted the price of the dollar at the beginning of the week. However, the possibility of interest rate cuts by the main central banks took away the momentum from that rise.

(Also: Dollar returned to gains and surpassed the $3,900 level again this Thursday).

But then, the United States Federal Reserve (Fed) wrote in its Beige Book that inflation will remain stable without major changes in the future, which reinforces the forecast that the rate cut will take longer than expected, situation that generated the change of direction of the dollar again in bullish territory.

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