Chilean Peso Gains as US Dollar Slips to 937 Pesos

The US dollar traded with volatility in Chile on 11 September, falling 4.68 Chilean pesos from the previous close on the Bolsa Electrónica de Chile to reach 937.02 pesos per unit near session lows. During early trades, the exchange rate had climbed to a high of 944 pesos. The pullback paused a two-day streak that had added 17.55 pesos. Across the week, the dollar remained up nearly 5 pesos, on track for its fifth consecutive weekly advance with a gain of about 27 pesos.

The session was shaped by the United States August consumer price index. US headline CPI rose 0.4% month-on-month, meeting expectations, while core CPI rose 0.3%, above the projected 0.2%. Emanoelle Santos, market analyst at investment app XTB, noted that the data reduces the Federal Reserve's margin to wait, shifting the balance toward tighter policy and lifting market pricing of a rate increase next week to near 90%, up from around 70% before the report.

Globally, the US dollar index gained 0.17% to 99.22 points against a basket of six currencies. In commodities, spot copper on the London Metal Exchange fell 1.05% to 6.45 dollars per pound, while the three-month contract on Comex searched for direction. Ignacio Mieres, head of research at XTB, commented that copper dropped amid reports that the White House had not finalized decisions on metal tariffs and might postpone the measure over supply security concerns.