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The US dollar gained against the Colombian peso after higher-than-expected US inflation data. Minutes from the latest Federal Reserve meeting showed officials see inflation as more persistent than expected and likely to delay rate cuts.
Market odds of a June Fed cut fell to about 20% from 59% a week earlier.
Higher US rates expectations strengthen the dollar and pressure emerging-market currencies such as the peso, which raises the cost of dollar-priced imports for Colombian feed buyers. The forecast of a further Colombian central bank cut would narrow the rate spread and could weigh further on the peso.
fxleaders.comGino Bruno D'AlessioApr 11, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
