the american currency started the day this friday about 5,040 pesos, 18 pesos less than the Representative Market Rate (TRM) which is 5,058.02.
This downward trend was after the approval of the tax reform in the Senate and House of Representatives, and after the market absorbed the news of the increase in rates of the Federal Reservewhich left rates at 4%.
The currency reached to touch the $5,000 support, but then it rose again to a maximum of $5,060 pesos on the day. Around 10 am, the dollar was trading on average over $5,031.
In context: Dollar remains unstoppable: reaches a new historical maximum and exceeds $5,100
The high volatility of the currency occurs while the G7 insisted that oil-producing countries increase their production in order to help lower prices, a month after OPEC’s decision to drastically reduce its crude oil extraction.
For this group of countries increasing production will help “reduce volatility in energy markets” in the context of the war in Ukraine, indicates a statement from the foreign ministers of the group of the seven most advanced economies in the world, meeting in Germany.
While In the United States, job creation increased slightly, which remained almost the same in October as in September, while the unemployment rate rose again slightly, at a time when the fight against inflation seeks to slow down the labor market.
More news: Tariffs of 40% on imported textiles would affect the country’s households, warns Jorge Restrepo
On the other hand, the European Central Bank (ECB) said it will quickly adopt new measures in case high inflation persists and medium-term expectations deteriorate, warned its president, Christine Lagarde.
Between July and October, the guardian institution of the euro increased its rates by 2%, something never seen in its history.
In this way, it demonstrated its determination to reduce inflation, which exceeds 10% in the euro area, driven by energy prices.
