Economy / Chile
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Peso Weakness To Be Limited
May 2008 | Market StrategySorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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The Chilean peso continues to look vulnerable, with the unit weakening towards support at CLP483.00/US$ on May 27. While we believe that there is room for a break below this level, stronger support exists near the CLP485.00-490.00/US$ area. A bounce off this level would be vital in restoring the peso's momentum, allowing it to make up some lost ground over the coming weeks.