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A Reuters poll of 24 FX strategists expects Colombia's peso to reach 4,800 per dollar by end-June, about 4.2% weaker than Monday's 4,600. The central bank raised its rate by 25 basis points to 13.0% and may be near the end of its hiking cycle, and the peso has decoupled from lower oil prices.
A weaker peso expected by strategists raises the local cost of dollar-priced feed imports into Colombia. The disconnect from oil prices suggests domestic policy risk, not commodity moves, is driving the currency.
finance.yahoo.comGabriel BurinApr 5, 2023Not 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.
