The dollar price US currency in Peru opened lower, with global investors confident that spike in inflation will persuade central banks to scale back interest rate hikes planned for September.
The exchange rate operates at S/ 3,887 per dollar, a decrease of 0.28% compared to Wednesday’s settlement at S/ 3,898, according to data from the Bloomberg agency.
MIRA: Exchange of dollars tripled between January and June 2022
So far this year, the greenback accumulates a decline of 2.60% compared to the last price of 2021 at S / 3,991.
On the other hand, in the parallel market or the main exchange houses, the dollar is bought at S / 3,870 and sold at S / 3,910, according to the portal cuantoestaeldolar.pe.
Globally, Wall Street headed for a fresh day of gains on Thursday as investors hope spike in inflation will persuade central banks to scale back interest rate hikes planned for September.
According to the Archyde.com agency, the prospect of a less aggressive tightening of borrowing costs lowered the dollar, while oil prices rose following the International Energy Agency raised its forecast for growth in oil demand for this year. .
“For the first time in a long time we’ve had a bit of good news, so the markets might extend this rally,” said Grace Peters of JPMorgan Private Bank.
“We agree with the direction of the trip, but if you dig into the CPI data you can see in the details that inflation is broad and quite sticky and will only come down slowly from here,” he added.
This means that the Fed might reduce the pace of rate hikes from 75 basis points to 50, he said.
