Friday, April 11, 2008

Chilian Central Bank going to intervene

The Chilian CB announced today that they are going to intervene in the markets by buying 50 mio usd per day for the next month in an effort to increase their reserves to close to 8 billion dollars. This has caused the market to open much higher. Currect price 444/448 after a close at 434/435. This is big news I think as they are signalling clearly that they want the currecny apprciation to stop.

Good Article on BLOOMBERG

Good Luck and Good Forex Trading



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