Colombian Peso Strengthens as U.S. Retail Sales Exceed Forecast
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Colombia’s peso strengthened as a report showed sales at U.S. retailers rose more than forecast last month and exporters stepped up currency purchases.
“There’s a significant amount of trade flow between them, and the more pronounced the U.S. economic recovery, the more positive for the Colombian peso, said Enrique Alvarez, head of Latin America fixed-income research at IDEAglobal in New York.