INSUBCONTINENT EXCLUSIVE:
Recently, the US dollar has surged in Chile, reaching CLP$959.63, influenced by a strong global US dollar and a revealing US job report.This
rise reflects uncertainties around US monetary policies and the effects of local interest rate cuts and copper price
data.Renato Campos from Hantec Markets highlighted the dollar reaching new annual highs, unseen since October 2022.Back then, political
(Photo Internet reproduction)Peso hits CLP$950.19 vs
USD last Friday, weakened by strong US employment report, reducing expectations for rate cuts.Meanwhile, the Federal Reserve has maintained
interest rates steady, ranging between 5.25% and 5.5%.In Chile, the central bank reduced borrowing costs to 7.25%, responding to the lowest
inflation rate since June 2021 at 3.9%.Rate cut and US-Chile interest gap prompt capital outflows, strengthening the dollar against the
decline could worsen, pushing the peso to further lows, possibly reaching CLP$990 per dollar.In 2024, the peso will have depreciated by
depreciation challenges.Predictions by Bloomberg suggest the dollar could stabilize at CLP$850 by year-end, indicating a cautious outlook
