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The dollar fell moderately against the Chilean peso and was below the $ 660 mark after closing yesterday at its highest level in more than 12 months.
At the end of operations in the local interbank market, the US dollar traded at a point of sale of $ 659.80, which implies a $ 2.7 decrease from yesterday [19659002] The previous day, the exchange rate experienced its biggest daily increase since last November, in the middle of the collapse of commodities, which have suffered like no one the ravages of the trade war.
Today, it is the opposite that has occurred. The price of copper, the country's main export product, rose sharply by 1.5% after a series of eight consecutive declines at the London Metal Exchange.
Both the copper peso and the Chilean peso were favored because of the global decline of the dollar, which also reached record highs in more than twelve months yesterday.
This failure was again against Donald Trump. The US president has confirmed not only that he does not like the monetary policy of the Federal Reserve, but that he is ready to apply tariffs to all products imported from China. The value of this figure is estimated at about 500 000 million dollars, twice the GDP of Chile.
In addition, he acknowledges that the United States does not want a strong dollar, unlike the official historical speech of this country. its currency
"The tension badociated with the" trade war "continues to set the tone for the financial markets.This time, Trump reaffirms the possibility of establishing new tariffs on Chinese products.The currencies show some reversal after the big fall in the day yesterday, "said Bci in his daily report.
Overall, the entity believes that these tensions could be declining in the coming days, which would be reflected in a "The economic fundamentals, meanwhile, indicate a slight appreciation of the peso, under the badumption of a moderation of trade-related tensions, "predicts Bci.
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