After Powell's words reconfigured hikes expectations, the exchange rate was losing $ 6 to the opening.
The president of the United States Federal Reserve gave a speech yesterday that moved the expectations of an increase in market rates and immediately dropped off the dollar to the global level. But as this happened yesterday after the closure of the exchange market, the local exchange rate is still in its opening.
During the first operations of the day, The dollar in Chile is $ 669.3, which represents a sharp reduction of $ 6.2 compared to yesterday's price.
The key, according to market agents, in the comments made yesterday by the head of the Fed, Jerome Powell. In a speech that the investors received in suspense, the officer said that the rate was close to its neutral level, which gave lights that the US center could take a break in the process of financial normality.
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This produced this morning's prosperity in emerging money, where most of the dollars took advantage. It should be remembered that this asset class has been in trouble during the year to the extent that the Fed gave lights from a more aggressive rate raising agenda during the first few months of the year than what was predicted in 2017.
On its behalf, the global price of the green – measured by the Dollar Index, which is a contrast to a money basket – recovers land after collapsing yesterday with the words of Powell.