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Broad Greenback Strength Weighing On Regional Currencies

LATAM FX
  • With USDMXN making progress back above 17.20 in early trade on Friday and the significant weakness for the more risk sensitive currencies in G!0 such as the AUD and NZD, both the Brazilian real and Chilean peso have come under pressure at the open. The key topside levels of note to keep eye on are the following:
    • USDMXN: 17.4280, the Aug 4 high.
    • USDBRL: 5.0016, the Aug 18 high (and bull trigger), clearance of this level would open 5.1277, the May 31 high.
    • USDCLP: 872.75, the Aug 18 high and bull trigger.

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