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Chilean Peso Strengthens as Copper Rises to Record, Euro Gains
Dec. 28, 2010 12:48PM PST
Base Metals Investing Bloomberg reports that Chile’s peso gained for the first time in five days as copper.
Bloomberg reports that Chile’s peso gained for the first time in five days as copper.
The market news is quoted as saying:
Copper for March delivery reached $4.3195 a pound, passing the previous peak for a most-active contract reached yesterday. Chile is the world’s biggest exporter of the metal, which accounts for about half of exports. The dollar weakened against most of its 16 most-traded peers as U.S. home prices declined more than forecast, bolstering the case for the Federal Reserve to maintain its program of debt purchases.
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