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Dollar closes closer to $ 900 with the largest drop in two months due to global manufacturing data and Imacec for April in Chile. The exchange rate sank this Monday in its first session of June, as both internal and external conditions converged in favor of the peso Chilean: the latest manufacturing data were below expectations in the United States and slightly above expectations in China, while in Chile the latest Imacec figures reaffirmed the cushion of the local currency.
After falling more than $40 in May, the dollar today fell $14.77 to $904.7 at the close of the local exchange market, recording its biggest daily drop since April 3, according to selling tips compiled by Bloomberg. The Chilean peso was the best-performing emerging currency of the day. The dollar index fell 0.52% to 104.12 points and Comex copper rose 1.38% to US$4.67 a pound, while US rates eased by up to 10 basis points (bp) and Brent oil declined 3.7% to lows since February.
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"The data released last night in China and today in both Chile and the US helped the peso advance," Credicorp FX trader Raimundo Olivares told DF, believing that "we have an important factor for the strength of our currency" due to the more favorable bets of large foreign institutional agents in the derivatives market.
