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USDCLP Weakness Extends As Hacienda Increase Dollar Sales For 2023

CHILE
  • News from Hacienda filtering through: *CHILE'S FIN. MINISTRY TO SELL $2B/MONTH BETWEEN AUG. AND DEC. (BBG)
    • Previously, for the period from July to September 2023, dollar sales of up to US$1,000 million per month were estimated with a daily maximum of up to US$100 million.
    • The new daily maximum has been increased to US$150 million.
  • Seeing a notable move for USDCLP in recent trade, sliding back below 850, extending on yesterday’s sell-off and now down close to 1.2% on the session.
    • In the process we have now broken initial support at 853.55, the 20-day EMA and the next downside level is at the 50-day EMA, which intersects at 834.97.

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