The dollar in Chile fell 7.25 pesos to close at 927.75 pesos on Thursday, July 9, while the IPSA rose 0.72% to 11,025.36 points. The copper rally supported local currencies and stock markets despite geopolitical tensions.
Financial markets in Chile and the United States showed resilience on July 9. The IPSA rebounded after the previous day's decline and the dollar ended a three-day rising streak.
The red metal rose more than 2% and reached its highest level since June 22. Analysts attributed the currency correction to the copper rally.
On Wall Street, the Dow Jones gained 0.27%, the S&P 500 advanced 0.81% and the Nasdaq rose 1.30%. The global dollar index fell 0.13% to 100.94 points.
Matías Serani of Renta 4 noted that the Chilean stock market stood apart from geopolitical uncertainty and capitalized on the copper rise. Ignacio Moraga of XTB said that momentum gave the Chilean peso breathing room.
