The Chilean peso posted the biggest decline in August this week as consumer sentiment declined in the United States during the past month, pushing traders away from emergent market currencies.
Commodities and stocks went down today after a report was published in the U.S. indicating a considerable fall for consumer confidence for the month of July, attracting investors to safer investments and consequently damping demand for emergent-market high-yielding currencies, like the Chilean peso.
USD/CLP climbed massively to 552.60 as of 18:51 GMT from an opening price in the U.S. session of 544.75.
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