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USDCLP Makes New Year-To-Date High

CHILE
  • As a reminder, Chile finance ministry announced yesterday that they do not plan any further dollar sales until December.
  • For reference, just $1.6 billion have been sold throughout November, at a daily pace of $160 million and ending on Monday. This is well under the $3.5 billion top estimate to be auctioned by Hacienda.
  • Weaker growth data and the looming elections placing further pressure on CLP at the open. USDCLP briefly took out the October highs above 832.80 and is extending a 3-day rally to over 4%.

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