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Snapshot: Greenback Strength Continues To Weigh On Regional Currencies

LATAM
  • The strength in the US Dollar is dictating the moves in Latin American currencies on Thursday.
  • The scale of intra-day weakness across the region is largely in-line with the corresponding moves in the Bloomberg dollar index, as local factors play second fiddle to the broader moves in global markets.
  • A brief but sharp bout of USD weakness just ahead of the London WMR fix has prompted a bounce off the lows for most LatAm currencies. Below gives key levels of LatAm markets in current trade:
    • USDMXN up 0.76% at 20.5588
    • USDBRL up 0.48% at 4.9906
    • USDCLP up 0.63% at 853.03
    • USDCOP up 0.63% at 3980.5
    • USDPEN up 0.6% at 3.8499
    • USDARS up 0.13% at 115.1754
    • Bloomberg Dollar Index up 0.75% at 1251.12
    • USDCNH up 1.21% at 6.6668
    • S&P E-Mini Future up 29.5 points (0.71%) at 4208.75
    • WTI Crude Oil (front-month) up $1.77 (1.74%) at $103.80
    • Copper Futures down 8.3 (-1.86%) at 437.35
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