Chile's peso gained for the first time in three days as China pledged to keep macroeconomic policies stable and copper, the South American nation's biggest export earner climbed to 6 week high.
The official said that China, the Andean country's biggest export market will expand domestic demand and promote urbanization. The world's second largest economy will probably maintain its official annual growth target of 7.5% next year.
Mr Alejandro Araya Santiago based currency trader at Banco Santander Chile said that "Things are flying here, with copper high and China sticking at 7.5%. I don't see how the dollar has a chance against the peso."
Source:
http://www.steelguru.com/metals_news/Chilean_peso_appreciates_as_copper_rises_and_China_reaffirms_policy/294230.html
