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LatAm Currencies Remain Firm Despite Latest Pressure on Equities

LATAM FX
  • Despite the most recent selling pressure in equity indices (E-mini S&P futures off roughly 1%) on the latest Russia potential invasion headlines, Latam currencies remain firm and are yet to give up early-session gains.
  • The greenback performing well against G10 pairs, evident by the DXY grinding into positive territory, however, the Bloomberg dollar index yet to follow suit.
  • PEN outperforming, currently +1.2% with USDMXN retesting the earlier breakdown point just below 20.25.
    • USDMXN down 0.33% at 20.2364
    • USDBRL down 0.74% at 5.0219
    • USDCLP down 0.76% at 786.94
    • USDCOP down 0.39% at 3915.13
    • USDPEN down 1.35% at 3.68

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