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The dollar stops its fertile line and the Chilean peso is the fourth most appreciated currency




The dollar halted its gains for eight consecutive days on Tuesday, waiting for a conference of the Federal Reserve president, where investors will seek indications of monetary policy to be received by the entity this year.

Dollar Index – which measures the performance of the currency against six currencies of the world – runs with a correction of 0.05%.

The weak dollar is responding to the expectations of FOMC members and the words of US Federal Reserve Chairman Paul Powell.

"The tone of the recent speeches was much more conservative than the Fed, which could weaken the dollar during the meeting," says XTB Latam Market Analyst Carlos Quezada.

On the local level, a few minutes after the opening of the interbank market, the dollar is quoted at $ 660.3, which implies a decrease of $ 2.7. In this way, the Chilean peso is the fourth most valued developing currency.

The performance of the domestic exchange rate occurs despite the decline in copper prices, an excellent reference to the national currency. The red metal contracts for March are 0.60% lower and priced at $ 2.777 per liter on the London Metal Exchange.

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


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