#USDUYU weakens further #UruguayAfter a three-year correction of wave IV, the Uruguayan peso is now depreciating again and should finalize wave V.
The target range is shown in the chart.
What is striking about Paraguay is that the guarani has been more stable than the peso against the USD in recent years since 2014.
Once wave V has ended, the peso should appreciate again against the USD. In 2-3 years, this may be due to the fact that the world is overrun with wars and South America and in this case Uruguay can benefit from the capital flight from Europe, as was the case during the First and Second World Wars.
Greetings from Hanover
Stefan Bode
