The U.S. dollar experienced its strongest month in 2025 during July, marking the first monthly gain of the year and its best performance since April 2022. The Bloomberg Dollar Spot Index rose by 2.7% in July, the only positive month since President Donald Trump took office in January 2025. The dollar's rebound was driven by positive economic data from the United States and progress on trade deals negotiated by the Trump administration. Despite a recent increase in interest rates by the Federal Reserve and the announcement of U.S. tariffs on copper, the dollar managed to climb approximately 13% in July, gaining around 55 Chilean pesos and reaching new highs near 980 pesos before some volatility. This upward movement ended a six-month streak of declines for the dollar and influenced currency fluctuations across Latin America, with some regional currencies depreciating in response. Market participants remained attentive to Federal Reserve communications and the implications of the copper tariffs, which caused short-term fluctuations in the dollar's value. Overall, the dollar's performance in July reflects strengthened confidence in the U.S. economy amid evolving trade and monetary policy developments under President Trump's administration.