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In any case, the strengthening of the copper price is helping to moderate the rise of the North American currency.
After the increases in recent days, the dollar in Chile once again exceeded the $ 800 barrier during the session, but in the last transactions it fell from that level.
From the market they speak that the uncertainty that the plebiscite brings with it is hitting the Chilean peso, which is added to a greater purchase of foreign currency by institutional investors.
Thus, according to figures from Bloomberg, the exchange rate closed at $ 798.6, which is a slight advance from the $ 797.9 at yesterday’s close.
The Chilean peso continues to decouple from its peers, since at this time most emerging currencies are gaining ground on the dollar. In that line, the XTB Latam market analyst, Sebastián Espinosa, indicates that “the plebiscite is approaching in our country, something to which the market is again paying attention. We must remember that in the midst of the social crisis of a year ago, the dollar was the main refuge, leading the exchange rate to finally trade at all-time highs “.
While Capitaria’s Head of Trading Studies, Ricardo Bustamante, mentions that “if we see an increase in the violence of the demonstrations, how was the weekend and last night, andhe greenback could well go for $ 820- $ 825 in the next few days. “
One factor that is helping to moderate the rise in the dollar is copper. The red metal closed the day on the London Metal Exchange at US $ 2.95, slightly up 0.02%.
In the market, they point out that the recovery in the price of copper is driven by fears of a stoppage of the Candelaria mine, belonging to Canada’s Lundin Mining, according to Reuters.
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