PEN: Upside Gains Are Limited

March 2007 | Currency Forecast

The sol is heading towards our long-held PEN3.1500/US$ target, and could reach it by end-2007. The upside pressures on the currency have continued to mount over the past few months on the back of high commodity prices, combined with robust economic activity across various sectors of the economy. In the short-term however, we think the

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