Bloomberg reported that Chile’s peso rebounded from a one month low as gains in the price of copper bolstered trade prospects for the metal’s top producing nation.

Copper, which accounts for more than half for half of Chile’s exports rose as much as 2.2% in London on speculation demand will keep strengthening in top global consumer China. The MSCI World Index and the Standard & Poor’s 500 futures gained as US credit ratings were affirmed, offsetting concern that European leaders are running out of options to solve the region’s debt crisis.

Mr Sebastian Momberg trader at Banco de Credito & Inversiones said that “Today should be a slightly positive day for the peso unless there are any negative surprises in US data. Futures look positive, the euro is recovering a bit and that’s helping the peso now.

(Sourced from Bloomberg.net)