Colombia’s peso posted its first weekly drop since May after a report showed confidence among U.S. consumers slumped in July, signaling the biggest part of the world’s largest economy is losing momentum.
The peso declined 0.2 percent this week to 1,877.85 per U.S. dollar at 2:56 p.m. New York time, from 1,873.55 on July 9. That’s its first weekly fall since the period ended May 21. The peso weakened 0.4 percent today.
“Investors are concerned U.S. growth will slow,” said Felipe Campos, head analyst at Bogota-based brokerage Alianza Valores. The U.S. is Colombia’s biggest trading partner.
The yield on Colombia’s benchmark 11 percent bonds due July 2020 fell six basis points, or 0.06 percentage point, today to 7.48 percent, according to Colombia’s stock exchange. The bond’s price rose 0.502 centavo to 124.195 centavos per peso. (Andrea Jaramillo / Bloomberg)