Dollar opens higher on the skewer by the Copom and reverberating cut in the American credit note

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On the previous day, the US currency advanced 1.27%, sold at R$ 4.7889. Understand what makes the dollar go up or down The dollar opened on a high this Wednesday (2), while investors await the decision of the Monetary Policy Committee (Copom) on the direction of the Selic, basic interest rate. Also weighing on business is the downgrade of the credit rating of the United States by the risk rating agency Fitch. At 9:02 am, the US currency rose 0.08%, quoted at R$ 4.7928. See more quotes. The day before, the dollar was up 1.27%, sold at R$4.7889. With the result, the currency started to accumulate: high of 1.22% in the week; advance of 1.27% in the month; decrease of 9.27% ​​in the year. COMMERCIAL X TOURISM: what is the difference between the quotation of foreign currencies and why is tourism more expensive? MONEY OR CARD? What’s the best way to take dollars on trips? DOLLAR: When is the best time to buy the currency? What is messing with the markets? The Brazilian market is waiting for the Copom decision, which should lower the Selic rate for the first time in three years. Experts expect this to be the first drop in a cycle of interest rate cuts, now that Brazilian inflation has begun to cool. Currently, the interest rate is at 13.75% per annum and there is no unanimity among analysts about what the percentage of the cut should be, but most projections point to a reduction between 0.25% and 0.50%. Furthermore, on a global level, investors are echoing the downgrade of the long-term credit rating in foreign currency of the United States from “AAA” to “AA+”, pointing to an expected fiscal deterioration in the next three years, as well as an increasing overall government debt burden. US Treasury Secretary Janet Yellen disagreed with the downgrade. “I disagree with Fitch Ratings’ decision. The change announced by Fitch Ratings today is arbitrary and based on outdated data,” Yellen said in a statement. Investors use credit ratings to assess the risk profile of companies and governments when raising finance in the debt capital markets. “Most people are saying corporate earnings are doing good, markets are doing good, but we expect a slowdown at some point, especially in the US where values ​​are very high. So we will be sensitive to any negative news flow potential,” Caroline Simmons, chief investment officer at UBS Global Wealth Management, told Reuters news agency.

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