The dollar/dirham pair depreciated by 0.57% during the week of November 25 to 29, dropping from 10.06 to 10, after staying above the 10 dirham mark throughout the week, according to Attijari Global Research (AGR).
This movement was driven by a negative basket effect of 0.77% linked to the euro’s rebound during the week, AGR explained in its recent report “Weekly Mad Insights – Currencies,” noting that the market effect was positive at 0.2%.
As a result, liquidity spreads for the dirham tightened to -0.84%. The strong performance of export flows helped maintain these spreads in negative territory. However, they are expected to slightly adjust upward over the next three months.
AGR noted that the election of Donald Trump in the United States, as well as the escalating tensions between Russia and Ukraine, contributed to the imbalance of the dollar. The impact of Trump’s tariff hikes on the economy and inflation remains uncertain.
AGR analysts recommend that operators hedge their positions for a three-month horizon, taking into account the market’s uncertainties and volatility.
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