Economic Risks To Weigh On The Peso

July 2008 | Currency Forecast

Solid macroeconomic fundamentals and an increasingly mature financial sector continue to drive the Uruguayan peso to new multi-year highs, with the peso currently trading along key resistance at UYU19.25/US$. The peso has appreciated by over 10% since the start of the year against the greenback and seems poised for further strengthening in 2008.

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