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Update: Strong Reversal In USDMXN, Chilean Peso Leads Regional Losses

LATAM
  • USDMXN has had a sharp turnaround after broad dollar strength saw the pair print fresh highs from last week around 20.85. Falling short of touted resistance at 20.98, the pair has gravitated back below 20.70, showing just marginal gains for Tuesday.
  • There are no major Latin American economic data releases scheduled for Wednesday and so the focus falls on Chilean Q3 GDP data on Thursday.
    • USDMXN up 0.28% at 20.6842
    • USDBRL up 0.63% at 5.4909
    • USDCLP up 1.8% at 812.03
    • USDCOP up 0.28% at 3895.34
    • USDPEN up 0.11% at 3.9975
    • BBG Dollar Index up 0.25% at 1176.81
    • USDCNH up 0.11% at 6.39
    • JPMorgan EM Ccy Index down 0.83% at 54.263
    • S&P E-Mini Future up 27.5 points (0.59%) at 4706.75
    • BBG Commodity Index up 0.2059 points (0.2%) at 103.3968
    • WTI Crude Oil (front-month) down $0.1 (-0.12%) at $80.79
    • Gold is down $11.36 (-0.61%) at $1851.45
    • Copper Futures down 5.6 (-1.27%) at 434.40
    • US 10-Yr yield is up 1.6 bps at 1.6301%

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