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Third
The dollar rises and is headed for its third consecutive rise a day after the central bank announced a further increase in interest ratewhich was lower than most analysts expected.
The US currency is trading at a selling price of $784.85, which represents an increase of $4.14 in relation to the previous day.
This occurs despite the dollar index which measures the currency against a basket of six liquid currencies, including the euro, records a decline of 0.5% at this minute. The Chilean peso also ignores the price of copper, whose three-point futures are up 0.25% to US$4.77 per pound.
At the first monetary policy meeting in charge of Rosanna Costathe Central Bank decided to raise the interest rate by 150 basis points to 7%, its highest level since 2009. The increase was on the lower side of projections that pointed to an increase of up to 200 basis points.
Now the experts dive headlong into the Monetary Policy Report (IPOM) which contains the issuer’s main projections for the Chilean economy.
“Being an increase that is not as high as several analysts expected, the rise of the US currency at the local level is generated, while the comments in the statement that point to increasingly less aggressive rises give additional support,” said Ricardo Bustamante, of Capitary.
“The last few days we have had a low exchange rate produced mainly by the expectations that analysts had that the monetary policy rate would rise up to 200 basis points. The rate hike was 150 points, which the market had already internalized, so today we have to be attentive to what the Monetary Policy Report indicates and mainly the impact that the war in Ukraine is having and future hikes rates,” said Juan Ortiz Godoy, senior market analyst at XTB Latam.