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BofA Bullish On IDR, INR & THB


(U1) Tilted Higher


Kiwi Gives Away Post-GDP Gains


Dragged Flatter By U.S. Tsys Overnight

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  • USDCLP closed back below the 700 level on a day where regional currencies benefitted from improved global sentiment. Copper prices have extended higher (+2.5% today) and despite local demand halting the momentum previously at these levels in USDCLP, the pair may be set to test the 693 lows in coming sessions.
  • Chile's lower house approved a progressive rate on copper sales in what could become one of the heaviest tax burdens in global mining, potentially stalling investments and boosting prices. This is a move opposed by the president and industry. The bill will now be sent to the Senate, from which it requires final approval.