Chilean Peso Rebounds on U.S. Optimism
The Chilean peso had its first advance in five days as optimism towards the U.S. economic recovery returned to trade markets fueling demand for raw materials produced in the South American nation.
A U.S. jobless claims report brought risk appetite up once again in commodities markets as speculations suggest that demand for energetic and metallic commodities are likely to rise in 2010, favoring the peso, since Chile is the world’s top copper producer.
USD/CLP closed at 508.05 from the exact same rate when it closed on Wednesday.
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Earlier News About the Chilean Peso:
- Chilean Peso Down on Central Bank Statement (2009-11-19)
- Chilean Peso Remains Bullish on Central Bank Statement (2009-11-18)
- Chilean Peso Breaks Another Record on Copper Rise (2009-11-16)
- Chilean Peso Posts Biggest Gains Since June (2009-11-14)
- Chilean Peso Hits Record High on 2010 Growth Report (2009-11-10)