The strengthening of the US dollar offers something to talk about not only in Colombiabut in the world. On the national territory, for example, the upward trend brings it closer to the psychological edge of $ 3,700, unseen so far this year.
According to José Joaquín Prieto, economic analyst at Credicorp Capital, the main reason for the behavior is the yield of the North American Treasury bonds, which is the benchmark for the performance of the US market.
“If the treasuries grow, it means that people estimate that there may be higher-than-expected inflation. That is a fact that the US recovery has largely taken place, “he said.
Yield on ten-year bonds traded on Wednesday at 1.46%, below a record 1.61% recorded last Friday. “Although it is below record, it continues to reflect the concern of economic agents,” said Prieto, who said that “if bonds continue to rise, it is very likely an increase in the Colombian exchange rate.”
This Wednesday, Columbia’s foreign exchange market opened 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.