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Chilean Peso Continues To Rebound

CHILE
  • Despite the continued weaker price action, USDCLP remains above initial support at the Mar 7 low of 789.00. Weakness through here and a break of 776.28, the Feb 3 low, would be required to resume the medium-term downtrend.
  • In local news, Lundin Mining to buy majority interest in Caserones copper mine. The company will buy 51% stake in JX Nippon Mining & Metals Corp.’s SCM Minera Lumina Copper Chile, which operates the mine, according to a statement.

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