Regional Currencies To Face Renewed Depreciatory Pressures
Breaks of technical resistance suggest that a relief rally for Latin American FX could have further to run.
However, fundamentals and technicals suggest that upside for regional currencies will be limited to short-term moves.
BRL and CLP will continue to face depreciatory pressures in 2014, with further exchange rate weakness instrumental for economic rebalancing.
|On The Verge Of Breaking Higher|
|JP Morgan Latin America Currency Index (Weekly)|