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- A volatile session for MXN after initial gains in USDMXN were quickly pared throughout a quick bout of broad dollar demand. Following this, pressure on equity indices superseded the dollar dynamic and USDMXN crawled back towards session highs seen around 20.0650.
- In similar fashion, initial CLP demand on the back of results from the primaries was diminished and USDCLP took out most recent resistance, trading above 760 for the first time since December 2020, printing highs at 763.70. Despite the turnaround, the Peso does remain one of the stronger performers in the region, down just 0.27%.
- BRL led global weakness and sold-off in a very gradual manner. USDBRL extended back above the 50-day EMA, reaching highs of 5.2374, 2.3% higher for Monday. The significant drop in oil prices contributing to souring sentiment, with the Real unwinding a considerable amount of last week's gains.
- COP also suffered from the oil led decline, retreating over 1%, along with the Peruvian Sol which once again approaches the all time low just below PEN4.00 against the dollar.
- There are no major Latin American economic data releases scheduled Tuesday.