Peso Strong As Budget Plans Approved

October 2006 | Market Strategy

The Colombian peso continued to make impressive gains this week, trading at COP2,337/US$ at yesterday's close - its strongest level since mid-May 2006. Having decisively breached 6-month trendline resistance at COP2,390/US$ last week, and in line with the view we expressed at the time, we believe there is potential for further upside. In our view, the central bank,

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