U.S. Currency Hits October Lows Against Colombian Peso Amid Trade War Easing

(MENAFN- The Rio Times) La República reported that the US dollar closed at COP4,188 on Friday, reaching levels not seen since October. The currency fell COP57.07 from the official exchange rate of COP4,245.65.

Trading ranged between COP4,196.00 and COP4,211.70, with 2,936 transactions totaling US$1.547 billion. The dollar's decline stemmed from President Trump's softer stance on China tariffs.

Trump told Fox News he preferred avoiding tariffs and believed a trade deal was possible. This eased fears of an international trade war and weakened the dollar globally.

Trump's comments boosted world stock markets to record highs. The European Stoxx 600 index headed for its fifth weekly gain. Emerging market currencies moved toward their best week since July 2023.

Investors shifted to higher-yielding assets as trade war concerns faded. The weaker dollar made dollar-priced commodities cheaper for holders of other currencies. Most base metals rose on Friday as a result.



However, oil prices remained on track for weekly losses despite small gains. Brent crude rose 0.4% to $78.61 per barrel, while WTI gained 0.4% to $74.93. Trump's energy emergency declaration earlier in the week aimed to boost domestic oil and gas production.

This move pressured OPEC to lower oil prices. The policy reflects a push for energy independence and market-driven pricing rather than cartel control. The dollar's retreat and shifting trade expectations rippled through global markets.

Investors reacted to the prospect of reduced trade tensions between the world's two largest economies. Markets now await concrete developments in US-China trade negotiations.

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