26 May 2015
USD/COP soars above 2,500
FXStreet (Córdoba) - The Colombian peso fell almost 2% against the US dollar on Tuesday and was the worst performer among Latin American currencies. USD/COP make a strong break above the 2,500 - 2,505 area and jumped to 2,547 hitting the strongest level since April 15.
The pair gained momentum amid a stronger US dollar in the market and also affected by a decline crude oil prices. The barrel (WTI) was falling 2.90%, trading slightly above $58.00. The dollar was boosted by risk aversion.
From a technical perspective, analyst from Brown Brothers Harriman see scope for a rise to 2,700 if the 2,567 area is cleared.To the downside the area around 2,500 has now become a support.
The pair gained momentum amid a stronger US dollar in the market and also affected by a decline crude oil prices. The barrel (WTI) was falling 2.90%, trading slightly above $58.00. The dollar was boosted by risk aversion.
From a technical perspective, analyst from Brown Brothers Harriman see scope for a rise to 2,700 if the 2,567 area is cleared.To the downside the area around 2,500 has now become a support.