• 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. 

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