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LATAM FX
  • MEXICO - USDMXN made a marginal new recent low 20.0043 following the weaker US CPI data and subsequent strong offer in the USD. Following the abrupt sell-off in US equities, the pair had a small bounce but continues to hover just above 20.00 as equities retrace higher.
  • BRAZIL - After the weak retail sales report USDBRL traded up to yesterday's intervention level but has since traded back to flat on the session. The pair appears to be consolidating after a particularly volatile first two trading days of the week.
  • CHILE - Chilean Peso the clear outperformer on the day up 1.31%. USDCLP currently testing initial support at 725.66, Feb 1 low. As mentioned earlier, a softer dollar, Hacienda supply and surging copper prices all helping the Peso appreciation.

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