Dollar falls to R$ 5.37 with indication of lower interest rate hikes in the US

The indication that the US Central Bank may reduce the pace of interest rate hikes in the United States caused the dollar to fall slightly, after rising this Tuesday (22). The stock exchange was affected by volatility in the financial market and retreated for the second consecutive time.

The commercial dollar ended this Wednesday (23) sold at R$5.374, down 0.1%. The quotation had a swinging day and, throughout the session, exceeded R$ 5.40 several times throughout the day. The low was only consolidated after the release of the minutes of the Federal Reserve’s meeting at the beginning of the month (Fed, Central Bank of the United States), in which several directors pointed out that interest rate increases should decrease from now on.

With today’s performance, the US currency accumulates a high of 4.03% in November. In 2022, the currency retreats 3.62%.

The stock market had another day marked by instability. The B3 Ibovespa index closed at 108,841 points, down 0.18%. Despite the rise in US stock markets due to the Fed’s signal, the indicator was again influenced by political uncertainty and negotiations surrounding the Proposed Amendment to the Constitution (PEC) of the Transition, which intends to remove the spending ceiling by R $198 billion over the next 4 years.

In the late afternoon, Senator Marcelo Castro (MDB), rapporteur for the 2023 Budget, said that the presentation of the final version of the Transition PEC was postponed due to lack of consensus. The elected government wants to withdraw BRL 175 billion to keep Bolsa Família at BRL 600 and pay an additional BRL 150 for families with children up to 6 years old. Castro informed that Congress wants to limit the impact to R$100 billion for the next 2 years.

* With information from Reuters

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