Bloomberg News

Chile’s Peso Gains for a Fourth Day as Copper Prices Increase

July 18, 2012

Chile’s peso rose for a fourth day versus the U.S. dollar, its longest winning streak in four weeks, as gains in copper bolstered the outlook for export revenue.

The peso rose 0.2 percent to 488.97 per U.S. dollar at 10:26 a.m. Santiago time, extending its longest winning streak since the five-day period ended June 19.

“The peso and copper are internalizing a relatively more optimistic scenario,” Sergio Tricio, head of research at ForexChile, said in an interview from Santiago.

The price of copper, Chile’s main export, rose 0.3 percent in New York.

Federal Reserve Chairman Ben S. Bernanke is speaking for a second day today before Congress. Bernanke expressed concern yesterday about the U.S. economic recovery and said he doesn’t see inflation as a hindrance to providing more monetary stimulus.

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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