The dollar falls against the Chilean peso in the face of greater optimism in the commercial conflict



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The dollar weakened against the Chilean peso at the close of trading on Wednesday. The appreciation of the local currency occurs on a day of lesser tension in the commercial war, in addition to the feeling of uncertainty prior to the Federal Reserve message.

At the end of the interbank market, the dollar was quoted at US $ 688.0, which translates into a drop of US $ 1.1.

The behavior of the Chilean peso is the advance in the prices of copper, a great reference for the national currency. Red metal contracts for March rose 0.60% to $ 2.67 a pound on the London Metal Exchange after signs of progress in China-US trade.

That's as the dollar weakens in international markets by the end of the last Fed monetary policy meeting. So far in operations, the Dollar Index – which measures the performance of the currency against a basket of six world currencies – retreats 0 , 30%.

"The usd index is being traded down in anticipation of the almost certain increase in interest rates by the Fed, but focused on Jerome Powell's speech, where the market expects to see a much more conservative Fed with its monetary policy for 2019," explains the market analyst at XTB Latam, Carlos Quezada.

With this scenario, the basket of currencies operates on mixed land, and the Chilean peso ranks tenth in the list of the largest advances against the dollar.

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