The US dollar closed higher against the Colombian peso at $3,576.10, up $2.80 from the TRM of $3,573.30. The rise followed a new government repurchase of global bonds, the third in the past year. Meanwhile, crude oil prices fell amid expectations of US-Iran peace talks.
The dollar hit a low of $3,559 and a high of $3,587.70 during the session, with 1,824 transactions totaling US$1.055 million.
The Colombian government conducted this operation to improve its debt profile and lower financing costs amid fiscal pressures, according to JP Tactical.
Internationally, investors are watching Kevin Warsh's hearing, Donald Trump's nominee for Federal Reserve chair, where he will outline his monetary policy views. Markets strategist Mauricio Acevedo noted it will shed light on the Fed's independence amid tensions between Jerome Powell and Trump.
Crude oil prices also declined: Brent fell US$0.69 to US$94.79 per barrel, and May WTI dropped US$1.12 to US$88.49. This reversed prior gains after Iran closed the Strait of Hormuz and the US seized an Iranian vessel. Tamas Varga of PVM Oil Associates anticipates a ceasefire extension.
Carol Kong of Commonwealth Bank of Australia said, 'Trump seems anxious to reach a deal with Iran and end the war quickly'.
