Weekly Currency Outlook – September 15-19, 2025

Weekly Forex Outlook:

• The start of the Fed's tapering cycle maintains downward pressure on the dollar, benefiting the euro and the pound, while the yen remains constrained by the BoJ's ultra-loose policy. The Colombian peso is appreciating, supported by the weak dollar and risk-on flows, although its high volatility could limit the sustainability of these gains.

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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

| Maria Lorena Moreno: IE Analyst - Maria Moreno@accivalores.com

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