The dollar closed the day up 0.17%, quoted at R$4.821, after strong initial volatility in trading. The impacting factor in the trading of the North American currency was the release of the minutes of the last monetary policy meeting of the Federal Reserve (Fed, the equivalent of the Central Bank of the United States).
The document confirmed financial authorities’ forecasts that the Fed would maintain the 0.5% interest rate hike. All participants at the May 3-4 monetary policy meeting supported the 0.5% point increase to combat inflation, “which has become the biggest obstacle to the growth of the US economy,” the minutes said.
Just before today’s closing (25), the dollar had a slight drop of 0.16%. However, buyers drive the recovery against the real and influenced the rise.
The Ibovespa, the main index of the Brazilian stock exchange, ended the day stable. The index closed above the 110,000 point mark, at 110,579.81, and adds up to four consecutive trading sessions. Petrobras and Vale appreciated and pulled the Brazilian market.
*With information from Reuters.
