Chile peso breaches key resistance, rate hikes eyed

SANTIAGO: Chile's peso broke through a key resistance level on Friday, firming to a new 6-week intraday high as companies sold dollars and the market anticipated interest rate hikes after minutes showed the central bank considered an increase last month, traders said.

The peso pushed past key resistance at 480 per US dollar, which had held for the past two months, to bid 0.42 percent firmer at 479.80.

The gains came even after data showed the euro zone economy worsened markedly and US employers decreased hiring for the third straight month in April.