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The dollar ends its bullishism and the Chilean peso is the fourth growing currency most appreciated




The dollar pauses its eight consecutive days up on Tuesday, pending the Federal Reserve conference, where investors will seek monetary policy signals to be adopted by the unit this year.

The dollar index – which measures the currency's development against six currencies in the world – works with a 0.05% retracement.

The weak dollar responds to expectations of the speeches of the members of the Federal Open Market Committee (FOMC) and the president of President Jerome Powell.

"The tone of recent speeches has been a much more conservative Fed, which can worsen USD during the session," said marketing director XTB Latam Carlos Quezada.

At local level, a few minutes after the opening of the interbank market, the dollar is quoted at $ 660.3, causing a fall of $ 2.7. In this way, the Chilean peso is the fourth growing currency most appreciated.

The development of the local exchange rate takes place despite the decline in copper prices, a major reference for the national currency. March red metal contracts work at 0.60% lower and are priced at $ 2.77 per pound on the London Metal Exchange.

"We are on the second day of negotiations between China and the United States authorities, where there is no major progress and the chances of an agreement do not increase. This would mean that the tariffs between both countries will return from March 1," Quezada explains.


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