Published at 13:37 (GMT) 24 Nov

USDCLP

CLP is retracing some of its strong rally yesterday in what is clearly a technical profit taking as EUR has not reversed gains and commodities are still on the up. Local business people outcry on the strong CLP would also weight on the traders mind because it could increase the chances of BCCH intervention and therefore the upside at these levels is rather limited. The rest of the week however is devoid of domestic data although Friday's monetary policy minutes may provide more insight on the outlook for inflation and FX intervention: 490-500.