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Relative Resilience In Peso

CHILE

Notable resilience in the Chilean Peso yesterday. Despite the firmer Bloomberg Dollar Index USDCLP, remained relatively very weak and hovered just above 7.11 support. Following the extension of moves overnight USDCLP has opened back above 7.20 and may be susceptible to a squeeze in line with regional peers. Initial resistance is at 727.55, Feb 12 high.

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