After Powell's words redistributed expectations of rising rates, the exchange rate lost $ 6 to open.
The Federal Reserve Chairman of the United States yesterday stepped up with the expectation of rising market rates and immediately averted the dollar at the global level. But as it happened yesterday after the closing of the stock market, the local exchange rate opens.
In the early days of surgery, dollar in Chile is $ 669.3, a sharp drop of $ 6.2 versus yesterday's price.
The key, according to agents in the market, is in the comments made yesterday by Fed chief Jerome Powell. In a speech that had investors in a tense situation, the official said the rate is close to a neutral level that gave the light that the US central bank could stop in the process of monetary normalization.
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This triggered a boom in the morning in emerging currencies, where most used the dollar. It should be remembered that this asset class got into trouble during the year, if the Fed in the first months of the year showed the light of more aggressive rate growth than what was envisaged in 2017.
The global dollar price – measured by a dollar index that contrasts with a basket of currencies – is recovering again after falling Powell's words yesterday.