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Full Lockdowns In Part Of Santiago, Hacienda Continue Dollar Sales

CHILE
  • USDCLP has been consolidating at lower levels, notably remaining under 725 which appears to be the short-term pivotal level. Hacienda supply totalled $1.32 billion of their monthly limit of $2 billion as of yesterday, continuing to be a supportive factor for the Peso.
  • Analyst's continuing to note potential headwinds as elections approach which may cap momentum for the pair in either direction.
  • Additionally, the enforcement of full lockdowns in parts of the Capital may hamper domestic activity going forward, despite the contradictory ongoing progression of the vaccination schedule.

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