The dollar rises all over the world and also in Chile in one day, marked by signs of a slowdown in the Chinese economy (key for our country), positive data in the US and the gestures of the Beijing-Washington trade-off approach.
At the end of the activity on the local interbank market, the US dollar amounted to USD 685.30, representing a jump of $ 3.3 from the end yesterday. With this result, the US dollar is reaching an appreciation of 10.3% by 2018 by Chilean peso.
The dollar was at the highest level in comparison with the Chilean peso in one month after two consecutive increases.
The increase took place in the context of China's fragile industrial data and retail sales, which was further accelerated due to nervousness around the global economic slowdown. Chinese data in particular affected the price of copper, the main export product in Chile.
For all this, the attention of investors on the complex situation in the neighborhood of Brexit should be added, as well as the actions of the European Central Bank (ECB), which after four years stopped buying bonds in the region.
"The exchange rate today is an important step forward, driven by the strengthening of the dollar around the world and the growing nervousness that continues to be reflected in global stock markets. Weak numbers of activities that are known in China have affected in particular the exchange rate," said Sergio Tricio, CEO of Ruvix.
"The European Central Bank, which was less optimistic about the economic scenario in the region, the political noise of the UK's departure from the European Union, together with the Chinese data below expectations, has affected the growth of the dollar in the last two sessions," said Itaúj, Miguel Ricaurte.
The US showed signs of good economic health with two positive figures, one week from the Federal Reserve Board of the Federal Reserve.
"Data on industrial production in the US and retail sales above expectations have driven the dollar internationally in comparison with other currencies, pulling goods like gold, copper and oil. This explains the increase in today's weight of the dollar," said Nataly Venegas, a market leader analyst at XTB Latam.
The dollar index (which measures the dollar against the basket of six major currencies) operates with a 0.46% increase and reaches the second highest level of flight.