Chile's peso declines most in Emerging Markets

The Chilean peso declined the most among emerging markets as investors ditch positions on the currency due to soft data coming out of China.

Investors increased short positions to the tune of $1.2 billion in the past week due to the report that Chinese imports fell by 11 per cent.

This negatively impacted the outlook for the price of copper, Chile's main export.

The Chilean peso declined 0.2 per cent to 680.21 to the dollar and has lost 1.5 per cent in the past five trading sessions.

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Read more at Bloomberg.