The harsher tone of the US Central Bank at today’s meeting (26) made the dollar reverse the fall and close slightly higher. The stock exchange resisted the international market for another day and closed at the highest level since the end of October.
The commercial dollar closed Wednesday sold at R$5.441, up just 0.11%. The price alternated highs and lows during the morning. In the afternoon, it dropped to R$5.40, but rose again after statements by the Federal Reserve Chairman (Fed, Central Bank of the United States), Jerome Powell.
Despite the rise, the US currency is at the third lowest price of the month. The currency accumulates a fall of 2.42% in January.
The stock market had a day of optimism. The B3 Ibovespa index closed at 111,289 points, up 0.98%. The indicator rose 2.2% around 4 pm, but slowed after the end of the Federal Reserve meeting.
As expected, the US monetary authority did not raise basic interest rates at today’s meeting. After the meeting ended, however, Powell indicated that he will start raising interest rates in the world’s largest economy in March and that he will be able to make adjustments at all meetings this year.
Currently, interest rates in the United States are at the lowest level in history, between 0% and 0.25% per year, as a monetary stimulus measure during the covid-19 pandemic.
Higher rates in advanced economies encourage capital flight from emerging countries such as Brazil. However, in recent days, the pressure on the dollar and the stock market has eased because investors understand that the effects of monetary tightening in the United States are priced in (embedded in asset prices).
*With information from Reuters
