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The Colombian peso weakened against the U.S. dollar for a third consecutive session, with USD/COP rising from an intraday low of 3,239 to a high of 3,295, its highest level since October 5. Markets were awaiting Colombia’s October inflation report, with analysts expecting annual inflation near 6.4%.
A weaker peso raises the local-currency cost of imported feed and agricultural inputs, while the inflation release may affect expectations for Colombian interest rates and the exchange rate.
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