The dollar closed the day higher for the fourth consecutive day, a day after the markets took a break for the holiday in the United States. The day on Thursday started with the data on the claim for unemployment benefits in that country and the decision of the Bank of England to leave interest rates in the United Kingdom at 5.25%, their highest level in 16 years.
The currency closed on Thursday at an average of $4,175.97, placing it $74.1 above the Representative Market Rate, which for today was $4,101.87. The currency hit a high of $4,193.50 and lows of $4,140. 2,988 movements were carried out for an amount of US$1,971 million.
According to Reuters, The fall of the pound sterling contributed to the rise of the US currency worldwide after the announcement of the policy monetary policy of the Bank of England that left interest rates in the United Kingdom at 5.25%, their highest level in 16 years.
This week, a calm atmosphere has been maintained in the financial markets. The dollar saw a decline after reports on Tuesday revealed that U.S. retail sales fell short of projections for May. This suggests the economy could be slowing, which could lead the Federal Reserve to consider cutting interest rates in September. Despite this, other data indicated an increase in manufacturer production last month.
According to experts, in Colombia the upward trend in the dollar is expected to continue, today with a little more stability, as well as currencies such as the Mexican Peso and the Brazilian Real, which are very stable against the dollar. But all of them continue in a process of devaluation against the dollar in the medium term.. “We are convinced that the dollar can go after $4,400 again very soon,” assured Juan Pablo Vieira, CEO of JP Tactical Trading.
How are oil prices today?
According to Reuters, Oil prices were trading steady on Thursday, slightly below their seven-week highs., with small movements after the US inventories data.
The Brent reference barrel rose 0.21% and stood at US$85.25, while the WTI reference rose 0.04% and reached US$81.60.
Investors are awaiting the release of US inventory data from the Energy Information AdministrationEIA, late on Thursday, a day later than usual, due to the June 19 holiday, which was celebrated yesterday.
However, Priyanka Sachdeva, senior market analyst at Phillip Nova, told Reuters that expectations of an increase in Inventories appear to be outweighing concerns for the moment about a possible escalation of geopolitical tension for now.
