Published at 13:37 (GMT) 19 Mar

USDCOP

COP posts modest losses of 0.17% to 1903.85 amidst mixed Latam FX and in-line with a generalised trend. The global backdrop is becoming slightly more favourable towards the COP, with oil prices recovering earlier morning losses and US equity markets opening more robust; these are counterbalanced by a strong USD. Local data was much better than expected, but this does not yet implicate growth or interest rate outlooks. Govt. seems to be holding back monetization, but continued moves above 1900 may induce additional USD sales. Watch USD and US mkts: 1895-1910.