Dollar soars and its maximum price already exceeds $4,100 this Tuesday

The dollar is rebounding strongly on Tuesday, July 30, with its highest price already exceeding the $4,100 level, amid market uncertainty following the elections in Venezuela and new data that could mark the direction of monetary policy in the United States.

According to the Colombian Stock Exchange, the US currency is trading at an average price of $4,094, that is, up 35 pesos compared to the daily exchange rate of $4,059.

The maximum price of the foreign currency reached $4,106.

The rise comes after the presentation of the US PCE inflation rate, a key figure for the Federal Reserve’s (Fed) monetary policy, which stood at 2.5% year-on-year in June, one-tenth less than in May.

This percentage is in line with what analysts expected, although it continues to show a moderate downward path and below the 2% target set by the Fed.

The core PCE – which excludes energy and food prices as they are considered more volatile – remained at 2.6% in June, the same as the previous month.

These figures were released just one day after it was confirmed yesterday that the US GDP grew by 0.7% during the second quarter of this year, three-tenths more than the previous three months, due to increased consumer spending in a context of decreasing inflation and a solid labour market.

In addition, uncertainty over the elections in Venezuela is keeping the currency market at a regional level in tension.

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