The dollar closes higher as the investor waits for the European Central Bank

The dollar closed higher on Wednesday (13), with investors awaiting new events to better calibrate prices, while attention turns to monetary policy decision in the Eurozone.

The US currency rose 0.26%, quoted at 4.6888 Brazilian Real. See more quotes.

On Tuesday, the dollar was down 0.28%, quoted at 4.6766 Brazilian real. With Wednesday’s result, it started accumulating lows of 1.48% for part of the month. In the year, it fell 15.89% against the riyal.

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Carlos Alberto Sardenberg commented on the highest inflation rate in the United States since 1981

What is messing with the markets?

A basket of emerging currencies closest to the riyal has worked almost steadily, with investors avoiding big moves ahead of fresh exchange rate stimulus, with the signal to be released by the European Central Bank (ECB) on Thursday in the spotlight.

The euro jumped 0.6% in the late afternoon against the dollar, a possible signal to bets that the European Central Bank may adopt a tougher tone against inflation. This would enhance the process of central banks abandoning the stimulus measures that, in light of the pandemic, injected a flood of liquidity into the global financial system, part of which migrated to emerging markets.

In the UK, British consumer inflation jumped in March to 7% in 12 months, the highest level in 30 years.

Here, IBGE earlier announced that retail sales grew by 1.1% in February, compared to January, marking the second-highest level in a row.

Central Bank President Roberto Campos Neto said on Monday that the March inflation result was a “surprise” and the IPCA core was “too high”, raising bets that the base rate (Selic) will rise in 2022 by more than 13% annually. .

Brazil’s high interest rates make the local currency more attractive to investors looking for income from riskier assets.