The local exchange rate ended operations at $ 677.8 while the US currency operated with a soft fall in the world.
The world's emerging currencies are breaking with the turmoil they have experienced in recent days, with a new light of hope that the long-awaited end of the trade war could unfold, although risks in Europe and the Fed continue to cast doubt. for investors.
At the end of the day's operations, the dollar in Chile stood at US $ 677.8, which represents a decrease of US $ 5.2 compared to yesterday's close.
This occurs in a context of increased risk appetite in global exchange markets. At the moment, the major emerging currencies go up in blocks, with few exceptions, while the international dollar price – measured by the Dollar Index, which contrasts with a basket of currencies – falls 0.35%.
This comes after US President Donald Trump showed optimism in trade talks with China, which could bring an end to the trade war. In addition, the chairman said he is willing to intercede in the case of Meng Wanzhou, a senior executive of Chinese company Huawei, if it helps both powers reach an agreement.
The trade war has been one of the elements that most contributes to the volatility of emerging currencies during the year, impacting commodity prices and the risk appetite of the international investor community by throwing uncertainty about the strength of global growth.
Although the leadership of Theresa May in the UK has been directly contested, which jeopardizes the exit agreement of the European Union, the euro is operating with a slight gain against the dollar, in line with the growing stock markets. region.
Of course, from the market point of view, a result that increases uncertainty levels in the Old Continent can trigger movements in the international exchange market.
This is particularly important for the Dollar Index as the Community currency is the heaviest in the basket with which the multilateral price of US currency is measured.
In addition, there is the Fed factor. And the fact is that the publication of core inflation in the United States today gives reason to think that the US Federal Reserve will have room to continue raising interest rates, which could give a boost additional to the dollar. .