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PEN Still Seen Over 2% Lower, Despite Larger Intervention

LATAM FX
  • LATAM FX SNAPSHOT: MXN holds onto 0.75% gains and leads BRL and CLP to post marginal gains for Monday's session. PEN fails to claw back any losses following the extremely close election counts. Uncertainty surrounding the polarization of the outcome keeping local assets severely on the back foot despite most recent headlines of larger intervention from the central bank:
  • Peru central bank sells $253m in FX market (BBG)
    • USDMXN down 0.66% at 19.8256
    • USDBRL down 0.24% at 5.0372
    • USDCLP down 0.31% at 715.56
    • USDPEN up 2.14% at 3.9374
    • Bloomberg Dollar Index down 0.22% at 1116.33
    • Bloomberg Commodity Index down 0.5251 points (-0.55%) at 94.1594

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