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Dollar starts week with cautious gains due to uncertainty from Silicon Valley bank bankruptcy



The bankruptcy of a Californian bank specializing in innovation could have sparked a flurry of bankruptcies in the sector. However, on the afternoon of March 12, the US Supreme Authority announced that all deposits were finally protected.

he dollar opened the week with a cautious gain amid bankruptcy fears. Silicon Valley Bank (SVB) .

Dollar averages after first move of the day $803.11 nearly $5 more than his Friday average.

Markets are reacting to uncertainty with the SVB drop recorded on Friday.and The world’s major stock markets are operating in the red .

“But the international dollar hasn’t recorded a high rise at the beginning of the day, so the pressure is not that great,” said Angel Rubiler, senior analyst at Libertex.

The collapse of this California bank dedicated to innovation It may have sparked a string of bankruptcies in the sector.

However, on the afternoon of March 12, the U.S. Supreme Authority announced that all deposits are finally protected You’ve put an end to the nightmare of the bank’s 35,000 customers. Most of them are startup founders.

Locally, Rubilar showed potential continued appreciation of the peso could be possible in Chile “Represents an opportunity to reinvigorate bonds , would affect inflation and thus revitalize the local market. ”

he copper For that part, it remains above $4, albeit with a small drop.

“Everything indicates that the announcements to be made related to the banking sector will be key in determining the course of this week,” said an expert.

All in all, attention will be focused on that sector this week. Bank failures do not bode well and are monitored by governments and investors.

Source: Biobiochile

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