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Chilean Peso Weakens - Diverging From LatAm Counterparts

CHILE
  • USDCLP took the opposite guidance from the broad dollar weakness during yesterday's session. Reports circulated that outflows of the Chilean Peso yesterday were linked to proposals introduced in the new constitutional convention:
  • Local media had outlined that up to 96 of the 155 delegates were in favour of clauses that created some restriction or even prohibition of foreign investment in the constitution.
  • USDCLP rallied from a low of 710.90 to close at 718.47, hovering just below the post-election highs traded on Monday just above 720.

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