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During the day, the currency fell to $ 650, in a context of rising emerging currencies.
A general rise in emerging currencies and the rebound in the price of copper have strengthened the local part of the cross
The US currency closed the operations in a point of sale of $ 652.10, which represents a decrease $ 4.8 compared to Friday's price, when the dollar-peso parity reached its maximum level of the year
This occurs despite the fact that the multilateral dollar was gaining ground during the day, operating at the local fence with a growth of 0.24% which led to the dollar index. – which measures the fluctuations of the US currency against a basket of six world currencies – to break a downward trend of four days.
At the time, however, most emerging market currencies appreciated against the dollar, according to Bloomberg figures.
To this is added a reduction of the commercial tension related to the tariff policy of the United States, after the war of Friday with China is highlighted. This has led copper to end its 10-session downtrend, the largest since 2015.
The Chilean peso, as an emerging currency, tends to volatility when events threatening global growth are generated, As in this context, the market badyst XTB Latam Daniel Meriño, anticipated that during the day, "the local exchange rate should maintain some downside tones".
From Bci Daily they explain that the exchange rate reflects the least tension with respect to the trade war, while the global dollar falls back into the margin and commodity prices recover something from value, as currencies of developed and emerging economies that appreciate slightly against the dollar, after a period of downward adjustment, related to the uncertainty on US trade policy.
"As long as signals point to not degenerating tariff policy and averting disruptions in world trade, prices of risky badets would begin to recover from value," they say.
In l '; together, since Bci says that tensions over the trade war are receding and economic fundamentals prevail, the exchange rate would gradually fall to $ 620 by the end of the year.
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