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After Powell's words reconfigured expectations for rate hikes, the exchange rate lost $ 6 in opening.
The President of the US Federal Reserve delivered a speech yesterday that shifted expectations of higher market rates and immediately downplayed the value of the dollar globally. But as happened yesterday after the closure of the foreign exchange market, the local exchange rate captured it from the outset.
During the day's first trading, the Chilean dollar stands at $ 669.3, which represents a sharp drop of $ 6.2 from the price of yesterday.
According to market players, the key lies in what was said yesterday by Fed Chairman Jerome Powell. In a speech that put investors on hold, the official said the rate was close to neutral, suggesting that the US central could pause in the process of monetary normalization.
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This caused a boom this morning in emerging currencies, where most took advantage of the dollar. It should be remembered that this badet clbad has been struggling throughout the year as the Fed has given, in the first few months of the year, the light of day. a rate hike program more aggressive than the one envisaged in 2017.
On the other hand, the global quotation of the greenback – measured by the Dollar Index, which contrasts with a basket of currencies – is gaining ground again after falling yesterday with Powell's words.
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