USD/COP remains vulnerable to oil price direction
Source: FxWire Pro - Commentary / 04 Nov 2014 01:52:56 America/New_York
Quotes from Scotiabank:
-The sharp decline in oil prices, combined with a bout of global risk aversion sent USDCOP back above levels at which the central bank and the government have signaled they believe the currency is fairly valued (implying the currency may now be seen as marginally on the cheaper side). After failing to break above 2085, USDCOP has been hovering in a narrower 2040 - 2075 range, but remains vulnerable to oil price direction.© FxWire Pro 2018. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.