He price of the Colombian peso It was devalued on Wednesday after it was learned that United States inflation for the month of March was higher than expected. He USD/COP rose to one-week highs after the data at 3,836.07. Previously, the pair hit a daily low at 3,761.71.
At the time of writing, USD/COP is trading above 3,788.32, gaining 0.51% daily.
The Colombian peso weakens in the face of higher than estimated US inflation
- US inflation rose 3.5% annually in March after rising 3.2% in February, worsening expectations for a 3.4% increase. The core CPI remained at 3.8%, disappointing the drop to 3.7% estimated by experts.
- The CME Group's FedWatch tool now places the chances of a first Fed interest rate cut in June at 56.1%. The chances of the first cut occurring in July are 50.5%. The delay in moderating the monetary policy of the United States Federal Reserve could benefit the Dollar against the Colombian Peso.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
