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USDCLP Hovers Just Below 835.50 Highs

CHILE
  • Despite USDCLP opening lower around 847.50 reflecting the weaker greenback, markets remain in buy-dips mode and the pair is hovering just below the year’s highs at 853.50.
    • Further upward pressure opens the 860.00 handle and 878.86 further out, the Mar 19 2020 high.
  • Central Bank President Mario Marcel said reducing uncertainties would consequently cut the risk of quarterly declines in gross domestic product, in a senate hearing on Wednesday.
    • Marcel added that annual inflation is to remain near 7% and then start to ease from second quarter 2022 onward.

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