He dollar It closed the day of this Wednesday, January 17, 2024 higher and stood at S/3.7450, which meant an advance of 0.59% compared to the close on Tuesday, when it was quoted at S/3.7230, according to the Central Reserve Bank of Peru (BCRP). Since December 15, 2023, such a high value has not been recorded. So far this year the currency has registered an advance of 1.03%.
At 2.15 pm lThe US currency in the parallel market was quoted at S/3.71 for purchase and S/3.75 for sale. While in the banking market the purchase reached S/3.6530 and the sale reached S/3.8350 at the windows of the Banco de Crédito del Perú (BCP).
Internationally, the US dollar held at a one-month high, following strong retail sales data. While benchmark 10-year US Treasury bond yields also rose, according to the Reuters report.
“Markets are hesitant about interest rate cuts if the Federal Reserve can cut them sooner rather than later, which is putting pressure on gold prices. With the dollar strong and cuts taking time, it is difficult for gold to sustain a rally,” said Bob Haberkorn, senior market strategist at RJO Futures.
“However, geopolitical risk will continue to provide a basis for prices and keep them around $2,000.”
Federal Reserve Governor Christopher Waller said Tuesday that the central bank should not rush to cut rates until lower inflation can be sustained. Traders are now pricing in around a 57% chance of a rate cut in Marchaccording to the CME FedWatch tool.
“Technically, gold is a bit risky here; if we close below $2,020, it indicates the sideways range has been broken to the downside,” said Tai Wong, a New York-based independent metals analyst.
With information from Reuters.
Source: Larepublica
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