CLP: To Remain A Regional Outperformer

Despite a recent bout of weakness against the dollar, the Chilean peso continues to outperform many other regional currencies. A combination of dollar strength and weak industrial production and industrial sales numbers for October led the CLP to sell off sharply on November 29, weakening 0.76% to close at CLP486.70/US$, its lowest level in almost a month. That said, a number of regional cross rates have moved in the peso's favour recently, and the currency remains one of our favourites in Latin America over the longer term.

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