Chilean Peso Rebounds on U.S. Optimism

The Chilean peso had its first advance in five days as optimism towards the U.S. economic recovery returned to trade markets fueling demand for raw materials produced in the South American nation.
A U.S. jobless claims report brought risk appetite up once again in commodities markets as speculations suggest that demand for energetic and metallic commodities are likely to rise in 2010, favoring the peso, since Chile is the world’s top copper producer.
USD/CLP closed at 508.05 from the exact same rate when it closed on Wednesday.

If you have any questions, comments or opinions regarding the Chilean Peso,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *