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Dollar in Chile today

After Powell's words reconfigure the expectation of an interest rate increase, the exchange rate loses $ 6 at the opening.

The president of the United States Federal Reserve gave a speech yesterday which moved expectations of rising interest rates on the market and immediately reduced from the dollar to the global level. But because this happened yesterday after the closing of the foreign exchange market, the local exchange rate increased at its opening.

In the first operation of the day, the dollar in Chile reached $ 669.3, which was a sharp decline of $ 6.2 compared to yesterday's price.

The key, according to market agents, was comments made yesterday by the head of the Fed, Jerome Powell. In a speech that made investors in tension, the official said that the level was close to a neutral level, which gave the light that the US center could take a break in the monetary normalization process.

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This resulted in an explosion this morning in developing currencies, where most took advantage of the dollar. It must be remembered that this asset class has experienced difficulties throughout the year as far as the Fed has given in the first months of the year from the agenda of a more aggressive rate hike than what has been contemplated in 2017.

For its part, the global greenback's price – measured through the Dollar Index, which contrasts with a basket of currencies – gets back after falling yesterday with Powell's words.

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