The dollar does not find its ground in Uruguay. This Tuesday the interbank average was located at $39.28 Y lost 45 hundredths compared to the start of the week (-0.6%). The last operation of the day was agreed at $39.25, this is 0.8% below Monday’s close, according to Bevsa.
On the BROU public blackboard, the dollar closed this Tuesday at $38.10 for purchase and $40.30 for sale, 50 hundredths below Monday.
when it remains one week to end November, the wholesale dollar accumulates a decrease of 3.3% compared to the end of Octoberwhile in the annual accumulated depreciation of the US currency against the peso reached 12.1%.
The dollar had bottomed out last June when it reached $39.07 on the interbank. It then started a strengthening process that was cut short in mid-July, when it had managed to break above $42.
On the other hand, in the Brazilian exchange market, the dollar weakened 1.2% against the real on Tuesday, which was trading at 5.38 units per greenback.
Meanwhile, by mid-afternoon, the dollar index fell 0.58% to 107.21 points, after rising three sessions in a row, while the two-year Treasury bond fell 2.3 basis points to 4.51 % and the US stock market operated with profits.
“The dollar at the international level is weakened by the strength of the euro given the increase in the consumer confidence index for November in the Eurozone, while the market is already digesting the statements of the members of the Federal Reserve,” the analyst wrote in a note FXGlobe Markets Manager, Nataly Venegas.
“The Fed could not be so aggressive when raising rates in December, since excess savings in the United States is falling rapidly, and this could show in numbers that there is indeed less consumption due to less private capital circulating, which lowers inflation and sets the stage for the Fed to ease its rate policy toward the end of the year,” he added.
This Wednesday the minutes of the November meeting of the Federal Open Market Committee – which defines the Fed’s monetary policy – will be published, which could provide more clues to the market on the guidelines of the central bank.
