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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Chilean peso finishes strong on Greek bailout, copper prices

Feb 21, 2012 03:45 PM

Chile's peso finished stronger against the dollar on Tuesday, February 21, as investors responded positively to Greece's bailout terms and worldwide copper prices advanced.

According to Dow Jones Newswires, the Chilean peso ended at 481.40 pesos to the dollar, compared to its finish on Monday of 482.10 pesos. In early trading, the Andean currency remained steady against the greenback as more markets analyzed the Greek deal and hesitated until other markets reacted before taking any new stances, one local currency trader stated.

The peso's strength was also bolstered by high copper prices in London, as Chile supplies the world with roughly one-third of its copper, and the currency typically follows closely with copper price fluctuations.

At 3:08 p.m. copper futures were up 3.01 percent to $3.82 per pound, an increase of 11.2 cents, according to Bloomberg.

According to the news source, the peso is on course for its biggest gain in two weeks after China decided to lower bank reserve requirements, prompting demand for more risky emerging-market assets.

In the previous session, copper rose 2.7 percent, an early hint at today's advancements. 

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