CLP/US$: Bullish Short-Term

In line with our long-held bullish stance for the Chilean peso the unit hit a 3-year high of CLP462.67/US$, strengthening some 4.5% against the greenback in the last 25 days. In line with our broader global strategy for continued dollar weakness, further peso appreciation is expected. We target a move to major resistance at CLP445.00/US$.

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