The strengthening of the US dollar is not only something to talk about in Colombiabut in the world. For example, in national territory, the upward trend brings it closer to the psychological edge of the $ 3,700, never seen this year so far.
According to José Joaquín Prieto, economic analyst at Credicorp Capital, the main reason for the optimistic behavior is the yield of North American government bonds, which are the measure of the performance of the US market.
“When treasuries rise, it means that people estimate that there may be more inflation than expected. That’s true because most of the recovery in the US has taken place, ”he said.
The ten-year bond yield traded at 1.46% on Wednesday, below the record 1.61% registered last Friday. “While below the record, it continues to reflect the concerns of economic actors,” said Prieto, who stated that “if bonds continue to rise, a rise in the Colombian exchange rate is very likely.”
This Wednesday, the exchange market in Colombia opened with the dollar at $ 3,670, $ 24 above the representative market rate of $ 3,646Finally, it closed at an average price of $ 3,677.03 and the closing price was $ 3,681.09.