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- USD/CLP: Potential for a fall to 800 – Credit Suisse
USD/CLP: Potential for a fall to 800 – Credit Suisse
Economists at Credit Suisse expect a more balanced Chilean peso price action now that pension withdrawal risk is reduced. They target 800 in USD/CLP.
Price action should be more balanced in the near-term
“Market concerns around a potential new pension withdrawal was one of the main forces driving CLP depreciation this month. With the tail risk of a new pension withdrawal removed, at least for now, CLP price action should be more balanced in the near-term.”
“We expect high (and increasing) carry, potential inflows and attractive valuations to support the peso. More hawkish Fed rhetoric and a potential further deceleration in Chinese growth remain key risks for the currency.”
“With USD/CLP trading around 820, we think the cross has the potential to fall to around 800.”
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