The strengthening of the US dollar is giving something to talk about not only in Colombia, But in the world. In national territory, for example, the upward trend is bringing it closer to the psychological strip of the $ 3,700, never seen so far this year.
According to José Joaquín Prieto, economic analyst at Credicorp Capital, the main reason for the bullish behavior is the performance of US Treasury bonds, Which are the benchmark of the performance of the American market.
“If the Treasury bonds go up, it means that people estimate that there may be more inflation than projected. This is true because the US recovery. UU. It’s been given to a large extent, ”he said.
Ten-year bond yields traded at 1.46% on Wednesday, below a record 1.61% registered last Friday. “While it is below the record, it continues to reflect the concern of economic agents,” said Prieto, who clarified that “if bonds continue to rise, a rise in the Colombian exchange rate is very likely.”
This Wednesday, the foreign exchange market in Colombia opened with the dollar at $ 3,670, $ 24 above the Representative Market Rate of $ 3,646. Finally, it closed at an average price of $ 3,677.03 and the closing price was $ 3,681.09.