# USD/COP to test all-time highs ahead of elections - CIBC: Analytics and Market news from 4 February 2022 16:24

> CIBC analysts expect USD/COP to reach 4200 by end of Q1 and 4100 by mid-year, as Banrep raised its overnight rate 100 bps to 4.00%, above market consensus. They expect another 100 bps hike in March and a Q3 terminal rate of 7.50%. Political risk ahead of the May 29 Colombian presidential election is also weighing on the peso.

- Date: 2022-02-04 · published 2022-02-04T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/42975-usd-cop-to-test-all-time-highs-ahead-of-elections-cibc-analytics-and-market
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

A weaker peso raises the local-currency cost of imported feed ingredients for Colombia, and tighter Colombian monetary policy signals rising financing costs for feed and livestock producers. The forecast points to continued peso pressure into mid-year.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- teletrade.org: https://www.teletrade.org/analytics/market-analysis/market-news/3725510

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.