Chile’s peso rose for a sixth straight day in the longest winning streak since January as international investors reduced their bets against the currency to a six-month low.
The currency appreciated 0.2 percent to 474.87 per U.S. dollar at 10 a.m. in Santiago.
International investors in the Chilean peso forwards market reduced net shorts to $6.7 billion on Dec. 7, the lowest since May. The peso is catching up with copper, which rallied 6.8 percent in the past month as China’s industrial production expanded at the fastest pace in eight months in the year through November. A short is a bet an asset will lose value.
Read full article…