Foreign Exchange Market – October 14, 2025

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| The dollar maintains its dominance in a global risk environment

• The dollar maintains a firm but contained tone, balancing its defensive role with expectations of Fed cuts.

   

• The euro remains weakened by political uncertainty in France and a lackluster macro environment in the Eurozone.

   

• The pound It continues to weaken in the face of signs of labor cooling and an increasingly restrictive fiscal and monetary environment.

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| Hector Wilson Tovar Garcia: Research Manager – wtovar@accivalores.com

| Maria Alejandra Martinez Botero: Research Director – maria.martinez@accivalores.com

| Laura Sophia Fajardo Rojas: IE Analyst - Laura Fajardo@accivalores.com

| Hugo Camilo Beltran Gomez: IE Analyst – hugo.beltran@accivalores.com

| Maria Lorena Moreno: IE Analyst – maria.moreno@accivalores.com

| Sara Sofia Guzmán Suárez: Intern – sara.guzman@accivalores.com