As I left my last post with a question what moves Currency markets. This is exactly it. I am working on my next post with more in depth focus on what moves Markets. I will post with additional information as it becomes available.
Jan. 8 (Bloomberg) -- Chile's peso rose to an almost 10-year high on speculation quickening inflation will prompt the central bank to raise interest rates, increasing the allure of local fixed-income assets.
The peso rose 0.9 percent to 489.15 pesos to the dollar, the highest since May 20, 1999, at 4 p.m. in New York from 493.75 yesterday. Today's gain is biggest since Nov. 28.
Chile's economy expanded more than expected in November, boosting speculation that policy makers will raise the 6 percent benchmark lending rate this week to curb annual inflation that has reached 7.8 percent, the highest since June 1996.
Quoted from http://www.bloomberg.com
The U.S. dollar yesterday fell versus 10 of 16 most- actively traded currencies after a report showed U.S. pending home sales declined more than forecast in November. The yen gained against New Zealand's dollar, Brazil's real and the U. K.'s pound as a decline in U.S. stocks prompted investors to exit trades funded by loans made in Japan.
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