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CLP Regains Surer Footing Amid Recovery In Risk

CHILE
  • The Chilean peso was, at it’s worst point, the worlds second worst performing currency on Thursday, behind the Russian Ruble.
    • USDCLP spiked to 824.50, over 5% higher from Wednesday’s lows and touted support around 783.50, the 50.0% Fibonacci retracement of the May - Dec 2021 upleg.
  • Chile’s Overwhelmed Constitution Writers Are Facing a Backlash (BBG)
  • Radical proposals that could fundamentally remake Chilean society and the nation’s economy are slipping through constitutional convention voting. One of the most controversial so far -- and there are more coming -- offers a veto to indigenous groups for any matter or issue that affects their rights.
    • Three delegates, speaking on condition of anonymity, acknowledged that the sheer pace of work could lead to oversights, with two indicating some had backed the indigenous article without fully realizing what it said.

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