Today concludes the monetary policy meeting of the entity. International markets are dancing to the beat of optimism at this hour.
With all eyes on the United States Federal Reserve, which today ends its monetary policy meeting, the exchange rate started and ended the day with few movements, in the midst of a global environment of greater appetite for risk.
The currency crossover, Bloomberg data shows, stood at $ 760.93 at the close of operations, which yields a slight drop of $ 0.95 compared to yesterday’s close. With this, the cross of currencies adds four days in a row down.
The international backdrop for these results is an increased appetite for risk. And is that, although copper futures show a slight contraction at this time and the spot price of the metal fell 0.55% on the London Metal Exchange, the dynamics of the exchange markets speaks of optimism at this time.
The The global price of the greenback continues to lose ground. The Dollar Index, which contrasts it with a basket of hard currencies, is losing 0.08% of its value at the moment, heading for its fourth consecutive session of retracement.
At its current level, accumulates a fall of more than 9% with respect to the peak that marked in March of this year.
On the other side of the coin, this decline has given space to the majors emerging currencies to increase its value. At this time, the bulk of the main currencies in the segment gain ground, led by a jump of about 1% in the South African rand. This includes all the major Latin American currencies, with the only exception of the Argentine peso.
The key is in the message from the Fed this afternoon. The market is already taking for granted that the Federal Open Market Committee (FOMC) will decide to keep interest rates low, but the economic projections generate curiosity.
In addition, this is the first meeting since the entity led by Jerome Powell made a change in strategy and opened the door to higher levels of inflation, so investors wait on the edge of the seat for today’s statement.