Chile Peso 1.4% Weaker On US Market Slump, Weak Copper Prices

SANTIAGO (Dow Jones)--The Chilean peso was trading 1.4% weaker against the U.S. dollar early Monday, tracking the U.S. market tumble and declining copper prices.

The peso is trading at CLP559.50 to the dollar, versus Friday's close at CLP551.70.

U.S. stocks dropped Monday in line with steep losses in Asian markets amid a backdrop of economic worries. Shortly after the opening bell, the Dow Jones Industrial Average was lower by about 175 points.

Since the onset of the financial crisis, the peso has tended to move in line with U.S. markets.
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Chile Peso 1.4% Weaker On US Market Slump, Weak Copper Prices