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CLP Outperforms, Chile Day Investment Forum Continues

CHILE
  • A turnaround in fortunes for the Chilean peso on Wednesday, rising around 1.30% against the greenback and showing some further appreciation amid higher copper futures at this morning’s open.
  • The significant move lower for USDCLP comes amid comments from Finance Minister Marcel who reiterated his optimistic stance for the economy, stating that Chile “started combining fiscal policy with monetary policy to stabilize the economy and that job is almost complete”, also emphasizing the continued easing of pressures on inflation.
  • Price action may have been exacerbated, following the brief breach of 900.00 earlier this week and the subsequent rejection of the level after yesterday’s US CPI report.
  • Chile Day in London continues today with Finance Minister Mario Marcel and Energy Minister Diego Pardow participating in a panel on the creation of a global green hydrogen center. BCCh president Rosanna Costa is also scheduled to deliver a presentation. Agenda can be found here.

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