# USD/COP: Limited enthusiasm for the peso to drag the pair to 3600 by year-end - CIBC - Forex Crunch

> CIBC analyst Luis Hurtado revised Colombian GDP expectations to around -4% for 2020, down from -2% last month and an initial +3% forecast. He kept a USD/COP forecast of 3800 by end-Q2 and 3600 by year-end, and said the pair may face a ceiling in the 4100-4200 range.

- Date: 2020-05-25 · published 2020-05-25T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/53420-usd-cop-limited-enthusiasm-for-the-peso-to-drag-the-pair-to-3600-by-year-end
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

Weaker growth and a lower policy rate expected from the central bank point to a softer peso, which raises the local cost of imported feed inputs; the oil price slump adds pressure on the currency.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2020/05/25/usd-cop-limited-enthusiasm-for-the-peso-to-drag-the-pair-to-3600-by-year-end-cibc/

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