- Chile, the world’s top producer of copper and the No. 2 for electric vehicle battery metal lithium, is also grappling with annual inflation at some 14%, weakening copper prices and a predicted recession, compounding the hit from the strong dollar.
- Currency strategist Juan Prada at Barclays said the tightening of global financial conditions was ramping up pressure on some regional markets particularly susceptible to external global economic impacts. “We have identified Chile and Colombia as vulnerable, and COP (Colombian peso) and CLP (Chilean peso) have underperformed LatAm peers” since the U.S. Federal Open Market Committee meeting in September, he said. READ MORE
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