The dollar in Colombia rose on Wednesday, August 21, as the market waited expectantly for the next move by the Federal Reserve (Fed), which will publish the minutes of its July meeting, offering clues to the markets about the possibility of lowering rates in September.
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According to the Stock Exchange, The foreign currency closed at an average price of $4,014, that is, it rose 3 pesos compared to the daily TRM of $4,011, changing the initial trend, after a downward start to the day.
(Also: Bill to dismantle the 4×1,000 is filed amid controversy).
The Fed kept interest rates unchanged at its last meeting but said it had seen progress in reducing inflation and investors now expect monetary policy to ease from September, although there are differences of opinion on how much the cut will be.
Dollar
PHOTO: EFE/EL TIEMPO Archive
In fact, according to CME Group’s FedWatch tool, Traders give 100% chance of rate cut next monthThe market is also awaiting Fed Chairman Jerome Powell’s speech on Friday, which could provide more details on how progress is being made towards the goal of reaching an inflation rate of 2%.
(Also: Investment, a subject that remains pending within economic growth).
“The big question is whether the Fed will opt for a 25 or 50 basis point cut in September. This week’s Jackson Hole Economic Policy Symposium should reveal a lot.” on the next steps, the analysis firm Muzinich&Co. indicated in the last few hours.
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