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UPDATE

LATAM
  • USDMXN with a solid 2% bounce from yesterday's lows and 20.00 halting the momentum heading into the close. MXN TIIE swap rates up 3-5 bps across the curve, in line with Peso losses.
  • USDBRL leading the global charge up just over 2% at 5.47, marching on towards the important resistance area around 5.5160. Rates under sever pressure with yields marching to new highs for the year. Yields up between 15-21 basis points in the belly and long end.
  • With EMFX struggling, even the Chilean Peso weakened (Down 1.34%) to close at 728.03 amid the risk-off sentiment. Copper prices were down 0.7% and the Bloomberg Commodity Index is down 1.26% heading into the close.
  • The Colombian Peso followed suit weakening in line with Oil Prices, down roughly 1.4%. USDCOP at 3527.

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