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Snapshot: PEN and CLP Diverge Despite Higher Copper Prices

LATAM
  • Below gives key levels of LatAm markets as we approach the Monday close. The Chilean peso firmed near 1% on the back of copper prices reaching decade highs. The largest move has been in the Peruvian Sol where Presidential run-off polling continues to weigh on the local currency and took priority over higher prices in the red metal:
    • USDMXN up 0.27% at 19.8813
    • USDBRL down 0.52% at 5.4475
    • USDCLP down 0.92% at 705.52
    • USDCOP up 0.35% at 3652.5
    • USDPEN up 1.33% at 3.839
    • Bbg Dollar Index down 0.08% at 1126.8
    • USDCNH down 0.29% at 6.4714
    • JPMorgan EM Ccy Index up 0.31% at 57.075
    • S&P E-Mini Future up 13.25 points (0.32%) at 4184.75
    • Bbg Commodity Index up 1.1212 points (1.27%) at 89.5237
    • Copper Futures up 10.35 (2.39%) at 443.95
    • US 10-Yr yield is up 0.9 bps at 1.5667%

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