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BCCh Survey Sees Rates Unchanged At Next Meeting, USDCLP Weaker

CHILE
  • A BCCh survey of traders shows the latest forecast for the key interest rate being left at 11.25% at the next meeting. Key rate seen at 10.25% two meetings ahead, and 9.00% four meetings ahead.
  • The USDCLP outlook remains bearish. Recent weakness confirmed a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. The 800.00 handle has been breached and this opens 771.89, the Mar 29 2022 low. On the upside, initial resistance is seen at 804.71, the 20-day EMA.

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