The Peso in Chile shot up for the tenth day running as bigger than forecast retail sales in the US boosted it.
The near record price of copper and the increased export volume from the company have made it possible for the currency to rise so spectacularly in the last ten days.
According to Bloomberg the 15% gain in the Peso during the second half of 2010 is the best performance in the 25 emerging market currencies. It is currently at 473.250 per US dollar. This is a 31 month high and may rise some more before the year is out.
Commodities have been going up including copper which gave Chile its strong sale figures. The S&P 500 is at its highest now since the Lehman Brothers Holdings bankruptcy in 2008. The dollar fell compared to most major counterparts and the Commerce Department figures showed a 0.8% increase in US retail sales, much lower than the 1.7 % in October.