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USDCLP Has Strong Reversal Higher, MXN Remains Resilient

LATAM
  • Early strength in the Chilean Peso dissipated throughout the session as the market remains in sell CLP rallies mode ahead of the December 19 runoff vote.
  • USDMXN attempted to regain the 21.00 handle however remains very resilient, outperforming regional peers on Thursday in the face of greenback strength.
  • After market close, the BCRP will publish their rate decision and statement.
  • Friday’s data focus will be on Brazil November IPCA inflation data where the annual rate is expected to jump to 10.9%. Mexico Industrial Production will also be released.
    • USDMXN up 0.04% at 20.942
    • USDBRL up 0.76% at 5.5721
    • USDCLP up 0.87% at 848.25
    • USDPEN up 0.04% at 4.08
    • BBG Dollar Index up 0.28% at 1182.24
    • USDCNH up 0.5% at 6.3778
    • JPMorgan EM Ccy Index down 0.57% at 52.236
    • WTI Crude Oil (front-month) down $1.72 (-2.38%) at $70.64
    • Gold is down $6.78 (-0.38%) at $1776.21
    • Copper Futures down 7.05 (-1.61%) at 432.05

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