Colombian Peso Adds to World-Beating Rally on Carry Appeal
- Currency’s one-month implied yield is the highest in Latam
- High potential returns make traders overlook high risks
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The Colombian peso extended its lead as the world’s best currency as its carry remains too appealing for traders even amid intense volatility.
The peso breached a 4,000 per dollar psychological level Tuesday, leading gains in Latin America. It’s now up almost 22% since January, by far the best among major currencies.