INTERNATIONAL HIGHLIGHTS
The Dollar appreciated slightly against the Dirham this week to 9.97, a variation of +0.17%.
This evolution is explained by a basket effect of +0.50% following the strengthening of the Dollar internationally this week. The liquidity effect, for its part, comes out negative at -0.33% in favor of the Dirham.
Liquidity spreads eased this week, going from 0.92% to 0.59%, a decrease of -33 BPS. This is due to import flows less significant than export flows thus supporting Dirham liquidity this week.
The change in monetary policy direction of the Fed and the ECB remains the main factor in EUR/USD orientation.
The main international brokers anticipate an appreciation of the Dollar against the Euro on the ST.
To this end, we advise importers to hedge their Dollar transactions over horizons ranging from 1 to 3 months.
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