Key Market View: Bullish Chilean Peso

Following a sharp sell-off in recent weeks, we believe that several key Latin American currencies are now looking highly oversold, suggesting to us that some regional units could be in line for a spell of short-term retracement. Such a marked correction has seen the US dollar move well into overbought territory, indicating that funding currencies could be poised for a period of weakness as the recent flight to safety takes a breather for the time being.

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