Fynsa
The flow of buying continues to dominate the foreign exchange market, despite sales by both the Central Bank and the Treasury.
In a context of rate cuts by both the Central Bank and the Federal Reserve, it will be especially important to have certainty as to how our currency will move.
The spread between the local rate and the FED rate has been compressed, but the game will continue until we have clarity on the beginning of the rate cut in the US and we discount the level to which the Central Bank will have to adjust rates.
