Chile’s is one of the world’s main copper producer and today this metallic commodity went up after a U.S. report, pushing the Chilean peso to higher levels as risk aversion declined among traders.

A report released today in the U.S. indicated a bigger number of housing starts for the month of June, being the jump of 3.6 percent from May the biggest since 2004. Chile is the main global copper producer, and the North American housing report brought risk appetite to strong levels, raising the price of commodities and consequently the rates for the Chilean currency.

USD/CLP slid intensively to 533.25 from a previous rate of 537.34.

If you have any questions, comments or opinions regarding the Chilean Peso, feel free to post them using the commentary form below.