Dollar rises again after Powell statement to raise interest rates

The price of the dollar Colombia For this Tuesday, March 7, negotiations began at an average of $4,675.58, representing a drop of $58.84 relative to the representative market rate (TRM) which stands at $4,734.42 today.

However, the currency was on an upward trend during the day after US Federal Reserve (Fed) President Jerome Powell warned that the Fed is ready to accelerate rate hikes if economic data warrants it.

“If the totality of the data indicates that faster tightening is warranted, we would be willing to accelerate the pace of rate hikes,” Powell says in the speech he plans to give this morning to the US Senate and which the Fed has already delivered . published. .

This means that the average dollar is currently around $4,724.55.

Source: El heraldo