Colombia's peso fell, posting its second weekly drop this month, after Federal Reserve Chairman Ben S. Bernanke didn't signal new steps for stimulating growth in the U.S. and a report showed the world's biggest economy grew less than estimated in the second quarter.
The peso declined 0.2 percent to 1,794.50 per dollar at 2:20 p.m. New York time, from 1,790.50 yesterday. It weakened 0.7 percent this week, after declining 0.6 percent in the period ended Aug. 5.
The Fed "has a range of tools that could be used to provide additional monetary stimulus," Bernanke said in a speech today to central bankers and economists gathered at an annual forum in Jackson Hole, Wyoming, without providing details or signaling when or whether policy makers might deploy them.
The U.S. economy expanded at an annualized 1 percent in the second quarter, down from a previous estimate of 1.3 percent, Commerce Department figures showed today.
"U.S. growth figures this morning were already prompting risk aversion in markets and leading to declines in the peso," said Po Jeng, a currency analyst at Interbolsa SA, Colombia's biggest brokerage.
The peso continued dropping, "helped by the fact Bernanke failed to announce the new stimulus investors had been speculating on," she said.
The yield on Colombia's 10 percent bonds due in July 2.024 rose two basis points, or 0.02 percentage point, to 7.42 percent.
The price fell 0.201 centavo to 120.948 centavos per peso.
The peso declined 0.2 percent to 1,794.50 per dollar at 2:20 p.m. New York time, from 1,790.50 yesterday. It weakened 0.7 percent this week, after declining 0.6 percent in the period ended Aug. 5.
The Fed "has a range of tools that could be used to provide additional monetary stimulus," Bernanke said in a speech today to central bankers and economists gathered at an annual forum in Jackson Hole, Wyoming, without providing details or signaling when or whether policy makers might deploy them.
The U.S. economy expanded at an annualized 1 percent in the second quarter, down from a previous estimate of 1.3 percent, Commerce Department figures showed today.
"U.S. growth figures this morning were already prompting risk aversion in markets and leading to declines in the peso," said Po Jeng, a currency analyst at Interbolsa SA, Colombia's biggest brokerage.
The peso continued dropping, "helped by the fact Bernanke failed to announce the new stimulus investors had been speculating on," she said.
The yield on Colombia's 10 percent bonds due in July 2.024 rose two basis points, or 0.02 percentage point, to 7.42 percent.
The price fell 0.201 centavo to 120.948 centavos per peso.
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