Dollar today: the currency goes back four days after the STEP

The dollar was on the rise this Wednesday and spent $ 45.70 in the wholesale market in the first minutes of the currency exchange. The rise of about 20 cents Since Tuesday, it is in a context where global investors have continued to seek refuge in less risky badets. In the world, the Chinese yuan has been devalued again, while the Japanese yen is appreciated.

Nation Bank sold foreign currency to $ 46.60 at 10:30 this Wednesday, with an increase of 30 cents.

The dollar was stable on Wednesday and the yuan fell again on the international market, after the temporary return of calm on the foreign exchange markets due to a more moderate rhetoric on the tariff war between the United States and China .

The president of the United States, Donald TrumpOn Tuesday, he downplayed concerns over the long-running trade war with China after Beijing warned that Washington's decision to designate it as a currency manipulator would lead to chaos in the financial systems.

The less aggressive position of the White House helped support the dollar, which was quoted at 97,619 units against a basket of rival coins Wednesday morning, same value as the day before. The central banks of the world announced interest rate cuts promote the growth of their economies. This led the President of the United States to demand a rate policy from the Federal Reserve more aggressive.

"Our problem is not China (…) Our problem is a Federal Reserve that is very proud to admit its mistake. (…) They must reduce rates faster and faster ", he wrote in his Trump account. Twitter Last week, the Fed announced a 25 basis point reduction in the benchmark rate, while hinting that she was not thinking of further cuts for the coming months.

At the local level, the Central Bank noted Tuesday the rate of Leliq to more than 62%, given the demand of high-yield banks to validate the monetary contraction. The monetary authority has slowed in recent weeks the rise of the dollar to intervene in the futures market.

Country risk remained at levels close to 900 basis points after Monday's jump, in the context of the resurgence of global tensions. he Merval increased by 1.1% this Tuesday

The imminence of primary elections makes investors more cautious. In recent weeks, foreign funds have disarmed their positions in peso bonds to position themselves on futures contracts in dollars, in order to protect themselves. Analysts consulted by TN.com.ar they recommended waiting for the result of the STEP positioned on dollar badets, such as US bonds or Letes.