June 21, 2022 11:50 GMT
- The Chilean peso fell to a record low of 885.35/USD Monday as copper prices extended their downward trajectory on concern China will take longer to bounce back from its Covid-19 economic woes.
- Political uncertainty tied to the rewriting of the country’s constitution has also been keeping investors away from peso-denominated assets which combined with an aggressive Federal Reserve has acted as a powerful headwind for CLP.
- Codelco workers will start a nationwide strike in Chile to protest the closing of the Ventanas smelter, Reuters reports citing a union leader.
- Amador Pantoja, president of the Federation of Copper Workers (FTC), told Reuters the strike would start with the first shift on Wednesday.