Dollar rises on day of monetary policy decisions in Brazil and the US

The dollar was up against the real shortly after the opening of the session, with investors failing to make big bets on “super” Wednesday (4) of monetary policy decisions both in Brazil and in the United States.

At 9:04 am (GMT), the spot dollar advanced 0.30%, at R$4.9796 on sale.

On B3, at 9:04 am (GMT), the dollar futures contract with the first maturity rose 0.40% to R$5.0230.

The spot dollar closed the last session down 2.10%, at R$4.9645 on sale, its biggest daily depreciation since December 30 of last year (-2.12%).

Here, the majority expectation in the market points to an increase of 1 percentage point in the Selic rate at the end of the Copom (Monetary Policy Committee) meeting of the BC, to 12.75% per year.

In the United States, market agents are betting on a rise of 0.50 percentage point to be promoted by the Federal Reserve (Fed, the central bank of the United States), taking the US basic interest rate to 1% per year.

The day before, the dollar closed with a strong fall of 2.1% against the real, quoted at R$ 4.964, after the BC held an auction for the sale of dollars in the futures market in the amount of R$ 1 billion.

Despite the BC measure, analysts understand that the dollar appreciation process tends to continue gaining strength, in a scenario of rising interest rates in the United States.

“We believe that the BC action will be of limited effectiveness to contain the devaluation of the real, since it is more of a global trend of appreciation of the dollar”, evaluate the analysts of XP, in a report.

On the other hand, the Ibovespa stock index of the Stock Exchange operated close to stability throughout practically the entire last trading session, to close with a slight drop of 0.1%, at 106,528 points.

Abroad, the main US stock indexes ended the previous day with modest gains. The S&P 500 is up 0.48% and the Dow Jones is up 0.20%, while the Nasdaq is up 0.28%.

with Reuters