Reuters: US Dollar Report: Chile peso breaches key resistance, rate hikes eyed

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Chile peso breaches key resistance, rate hikes eyed May 4th 2012, 13:50 SANTIAGO | Fri May 4, 2012 9:50am EDT SANTIAGO May 4 (Reuters) - 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 U.S. 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 U.S. employers decreased hiring for the third straight month in April.

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