Chilean Peso slips as copper loses value on U.S. budget issues

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Source: Bloomberg
© Scanpix/Reuters
The Chile's Peso experienced a 0.2% drop to 475.10 per Dollar in the end of trading session in Santiago on Thursday. The Peso slipped from an eight week high mainly due to depreciating copper after the Federal Reserve System showed concern about the U.S. budget issues reaching a deal on tax increase and government spending cuts. Copper makes a big impact for the Peso, as this metal is the biggest Chile's export and the U.S. is the second biggest consumer.
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