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Summary - CLP Outperforms, Bogota Lockdowns

LATAM

USDCLP is opening in line with Wednesday's close which given the moves in other EMFX, highlight the outperformance of the Peso. This mainly reflects the continuing upwards trend in commodity prices like copper. Some desks have noted the main risk for the Peso would be another allocation shift from F&F towards a more international portfolio. They had mentioned another potential shift prior to the central bank announcement, and this has the potential to trigger local outflows.


COLOMBIA - Bogota enters lockdown at 8pm until Monday morning, with movement restricted for all but essential workers as coronavirus cases in Colombia surge.


Peru cabinet members speak to a congressional committee on the pandemic response.

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