Dollar price today, January 11 in Colombia

The premise behind the price of the dollar is that the more dollars in circulation in a country, the lower their price will be, so what happens to the Fed will be critical. Reference image.

Photo: Bloomberg

The dollar’s move during the first two weeks of 2024 left the currency around $3,900, a few pesos above that figure. At its last close last Wednesday, January 10, the currency closed at $3,934.

This Thursday the dollar closed at US$3927, representing a slight decrease of $7 from Wednesday’s price. On the day marked by the publication of annual inflation data in the United States, the average price of the currency was $3,929.86 with a maximum price of $3,949.

From my side, Representative market rate (TRM) set by the Columbia Monetary Authority as of this Thursday, January 11th is $3,946.39. This is $12.26 more than the previous day. Additionally, the current TRM is at its highest level in over three weeks (since December 21), but is $861.46 lower than a year ago (January 11, 2023).

What will move the dollar this week?

Among the international factors that will affect the price of the dollar this week, the first will be inflation in the United States. This Thursday, the US Bureau of Labor Statistics published the latest data on inflation in this country.

The organization reported that US inflation ended 2023 at 3.4%. In December last year, inflation rose three-tenths compared to the same month in 2022. The US Bureau of Labor Statistics indicated that prices had fallen year-over-year (2022 versus 2023) since October, so the latest inflation data broke the downward trend.

For its part, core inflation (a key measure for the Federal Reserve’s interest rate decisions because it strips out the most volatile variables such as food and energy prices) is down one-tenth from December 2022 and is down year-on-year from Martha.

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Likewise, signals from the US Federal Reserve (Fed) regarding monetary policy and interest rates are felt in the price of the dollar. John Williams, president of the New York Fed, said current monetary policy is tight enough to return inflation to its 2% target, but more evidence will be needed before any rate cuts occur.

The premise regarding the price of the dollar is that the more dollars there are in circulation in a country, the lower their price will be. FEED will be decisive. The dollar is expected to remain relatively weak this year, below the $4,000 barrier. It is likely, as experts say, that the thresholds of $3,800 will be reached again. However, all of these forecasts are subject to change as the world registers variables that could affect the deficit, such as escalating conflict in Ukraine and along the Gaza Strip border, as well as other geopolitical and commercial tensions.

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