THE dollar closed down this Thursday (6), in the wake of three consecutive highs and after reaching R$ 5.71 on Wednesday (5) due to the release of the minutes of the monetary policy meeting of the Federal Reserve, or Central Bank of the United States.
The North American currency retreated 0.57% and closed at R$ 5.680, after reaching R$ 5.725 at the highest of the day.
The Ibovespa ended the day up 0.55%, at 101,561.05 points. It was the first positive trading session after three consecutive drops in the first days of 2022.
On Wednesday, the Ibovespa had its biggest daily drop since November 26, with the lowest level since December 1st. The index dropped 2.42% to 101,005 points. The dollar rose 0.41%, closing at R$ 5.71, but had an adjustment movement this Thursday.
The Federal Reserve’s minutes negatively affected the exchanges and currencies of several countries, surprising due to the harsher tone. In it, autarchy directors stated that it may be necessary to increase the fees in the country earlier and faster than previously anticipated, due to high inflation in the country.
The main points highlighted by analysts were the priced probability of the interest rate hike in March, from 63% to 81%, and the greater probability of the Fed promoting four interest rate hikes in 2022, instead of two.
Higher interest rates make the country’s Treasury bonds even more attractive, along with greater security for investors. As a result, there is a flow of investment withdrawals from markets seen as riskier, such as Brazil, which led to the fall of the Ibovespa and the appreciation of the dollar.
In a report released on Thursday, economists at XP Investimentos also stated that uncertainties regarding the government’s fiscal policy helped the dollar to rise. “The exchange rate should fluctuate around the level of R$ 5.70 per dollar until the fiscal regime beyond 2022 becomes clearer”, states the text.
Public servants of various categories have been putting pressure on the federal government to promote salary readjustments, raising fears among investors about the health of public accounts, despite the recent improvement in fiscal data.
THE central bank held in this trading session an auction of up to 17,000 traditional foreign exchange swap contracts for the purpose of rolling over the maturity of March 2, 2022. All contracts were sold.
With information from Reuters and Priscila Yazbek, from CNN
Reference: CNN Brasil
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