After the resounding victory of José Antonio Kast In the second presidential round this Sunday, the Chilean market reacted optimistic and the Chilean peso opened higher against the dollar, which fell to $903a minimum not seen since 2024.
According to experts, this appreciation of the national currency is due to three factors: one major political stability the consequence for the market after the triumph of the Republican leader Moderation of inflation expectations and the Record price for copperwhat quotes $5.4 per pound at the London Metal Exchange.
It should be remembered that the North American currency had already been falling for several weeks when the polls declared the Republican leader the winner by a wide margin, and last Friday it closed $909.7 Completion of one weekly decline of $14.
According to the analyst at Capitaria Markets Diego MontalbettiKast’s categorical victory with the 58.2% of voices towards that 41.84% from the official letter Jeannette JaraIt spreads and radiates throughout the country “a sign of greater political stability, less regulatory uncertainty and a more favorable investment environment.”he assured BioBíoChile.
For this reason, he added that he would also “keep going.” Promoting IPSA (Selective Stock Price Index, Chile’s main stock index).”
Meanwhile, copper remains stable at $5.4, providing stability to the peso.
After all, that’s it Dollar index -Index that measures the value of the North American currency- fell on notice 97.8 pointswhich explains the global decline.
In the same vein, Global66’s Chief Business Officer said, Rodrigo Lama, He claimed that the triumph of the Republican leader is seen as “cheap for local assetsgiven the expectations of an environment more willingness to invest, greater regulatory certainty and economic dynamismFactors that tend to strengthen the Chilean currency.”
“If global volatility remains contained, US economic data confirms an orderly and orderly development The market is receiving growth-boosting signals from Chile’s elected president, USD/CLP could extend its appreciation towards levels near $900he pointed out to the aforementioned media.
Finally, Admirals Latin America’s chief analyst said, Felipe Sepulvedapredicts that the peso will fluctuate that day $900 and $914.
So it remains to be seen how the market will react to the new president’s next moves since announcing his economic team or some other market-friendly initiative could cause the peso to continue to appreciate against the dollar.
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