The dollar closed this Friday with a strong momentum, in a session marked by inflationary progress in the United Stateswhere the IPC rose more than expected, and a new drop in the price of copper on the London Metal Exchange.
The currency hit $846, a jump of $20.6 from Thursday, its biggest gain since late February this year. The Chilean peso was the currency that weakened the most in the world. During the week the dollar rose $33.
“Substantial progress shows the dollar at the international level following knowing a new increase in the consumer price index of the American economy corresponding to the month of May, which shows a new advance up to 8.6%, leaving behind the expectation and idea of considering a moderation in the prices of the first economy in the world”, said Renato Campos of Admiral Markets.
Countries’ attention has undoubtedly turned to high inflation, which has central banks on alert. Next week is the Fed meeting, where a new rate hike is expected.
“After knowing these data, there is greater pressure on the Federal Reserve to continue with a process of aggressive rate hikes, supporting the appreciation of the greenback worldwide and weakening copper due to the impact on economic activity that implies higher rates in the world”, pointed out Ricardo Bustamante of Capitaria.
Copper, for its part, fell 0.97% to US$4.326 per pound.
