The dollar drops 13 cents to 46.23 dollars in agreement with the region

In agreement, the ticket falls to 13 cents to $ 46.23 this Wednesday on the local market of banks and agencies of the city of Buenos Aires, according to the average of dominio.com.

Unlike previous episodes of trade tensions when the dollar had benefited from a worsening of trade tensions with China, President Donald Trump's threat to raise tariffs on Chinese products has led some strategists to focus on the corrosive impact in Washington.

"US policymakers have made it clear that the next stage for the central bank will be based on economic data and that markets are expecting a rate cut faster if trade tensions intensify," Ricardo said. Evangelista, badyst. d & # 39; ActivTrades.

The United States will raise tariffs on imported Chinese goods worth $ 200 billion, from 10% to 25%, the official newspaper announced on Wednesday, a measure that deepens the trade war between the two largest economies in the world.

Official data showed previously that China's trade surplus with the United States had reached 21.01 billion dollars in April compared with the previous month. The rise could lead Washington to tighten its position in the negotiations.

Yesterday, the resurgence of the trade war between the United States and China strengthened the dollar, which again exceeded 46 dollars.

The greenback soared 50 cents to $ 46.26, without the intervention of the BCRA, which again validated a slight decline in the reference rate, in a round marked by auctions of Treasury bills in dollars (Letes) and letters capitalized in pesos (Lecap).

On the single market and the foreign exchange market (MULC), by contrast, the currency rose 68 cents to 45.33 dollars, in tune with global markets, primarily emerging markets, facing increasing risk aversion after Washington has stepped up pressure on Beijing to reach a desired trade deal.

In a wheel with a moderate business turnover (just $ 669.1 million, 10% less than Monday), the North American currency was more tied to international nervousness and adjusted its price with a more important than lukewarm. go back up from Monday.

From the beginning, the demand for coverage led to an advance in listing, until the supply was generated with a revenue stream (a portion of the land, plus the $ 60 million that the BCRA offer every day). Analyst Gustavo Quintana explained that the big dollar was $ 44.80.

From there, orders intensified with increased intensity during the last half-hour of operation and, due to insufficient supply (lower farm receipts than the previous day, faced with lower prices basic products), They overflowed the roof of the $ 45up to a maximum of $ 45.33, right at the end of the wheel.

"A real dollar purchase order appeared an hour before the market closed and raised the price," said Fernando Izzo of ABC Mercado de Cambios.

The truth is that "the likelihood of an escalation of the trade war between the US and China has increased dramatically, which would be a hindrance to their respective economies, especially for China," said L & # Economist Louis Kuijs, economist at Oxford.

In this context, the Chinese yuan remained close to the minimum of two and a half months in international markets.

In emerging countries, the Turkish lira faced strong pressure after the country's electoral council decided to cancel a municipal election in Istanbul and order its reproduction.

Thus, the Turkish currency fell to 1.5% and exceeded the threshold of 6.15 units per dollar, which also resulted in the fall of the Istanbul stock market and government bonds, pushing the rest of the emerging currencies.

Low rate

The Central Bank validated Tuesday the third consecutive decline in rates Leliq, which stood at 73.242% on average, for a total of 215.203 million dollars.

The interest rate on letters from the BCRA narrowed by only 29 basis points, after two bids that had a contractionary effect of $ 8,104 million.

On the first trading day of the day, the Central Bank granted seven-day liquidity letters at an average audience rate of 73.340%, for an amount of $ 138,092 million.

At the second auction, the amount allocated was $ 77,112 million, at an average trial rate of 73,066%, with a maximum rate of 73.19% and a minimum of 72.932%.

Other markets

In the informal market, the blue fell from 50 cents to 46 dollars, according to the investigation on this support in the caves of downtown Buenos Aires, thus closed again below the official rating. Meanwhile, the "contado con liqui" rebounded 27 cents yesterday to $ 44.93.

In the interbank money market, call money operated at 71%.

In the ROFEX futures market, $ 812 million was traded, 35% lower than Monday. The shortest terms concentrated more than 65% of the total mined, and the final prices for these months, May and June, finally worked out at $ 47.19 and $ 49.10 (62.40% and 56.22% ). October, with 51 million US dollars operated, finished at 58.30 dollars (TNA 60.76%).

Although the BCRA's sales positions were close to the end, they did not affect the final price (they seemed to show their willingness to stop the rise). In this context, all conditions increased on average by more than 1.2%, which was consecutive to the final increase of the spot.

Finally, the gross international reserves of the BCRA fell from $ 1,926 million Tuesday to $ 68,926 million.