The dollar closed above $3900, an increase of $78.39 over the official rate

The dollar closed this Friday at an average price of $3911.73, which represents an increase of $78.39 compared to the representative market price (TRM), which stands for today’s session at $3833.34.

The open price of Set-FX was $3,880, the highest price was $3,944.50 and the lowest price was $3,874. During the day, $1,276.2 million was negotiated through 1,980 deals.

US stock futures sank and Treasury yields rose after an unexpectedly high consumer price reading boosted bets that the Federal Reserve will have to escalate its fight against inflation.

S&P 500 futures fell more than 1.5% after data showed prices rose 8.6% last month, exacerbating fears that the Federal Reserve’s efforts to control inflation will cause the economy to stagnate.

Inflation remains at a 40-year high, even after the Federal Reserve began cutting monetary support for the economy in March. The central bank indicated that it is likely to raise interest rates by 50 basis points when it meets next week.

Oil prices rose on Friday and were on track for another weekly gain buoyed by strong US fuel demand, although new COVID-19 alerts in Shanghai and Beijing capped the gains.

A barrel of Brent oil, the reference to Colombia, fell 0.07% to $122.98. While the West Texas Intermediate (WTI) rose 0.06% to $121.58.

With prices generally rising over the past two months, Brent crude is on track for a fourth consecutive weekly gain and WTI is on the cusp of a seventh straight weekly rise.

“The summer travel season in the United States is seeing record increases in gasoline and diesel consumption,” analysts at Fitch Solutions said. Peak fuel demand has pushed the price of gasoline to nearly $5 a gallon in that country.

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