Chile Peso Marches Against U.S. Dollar After Aggressive Rate Hike

The Chilean peso rose 1.25% against the greenback to 464.35 on Friday. This march comes after the Chilean central bank surprised most analysts by raising interest rates by 50 basis point. In addition, the price of copper, Chile's main export, started to increase as well. Traders who believe the Chilean economy will continue to be strong, prompting its central bank to increase interest rates again, will be interested in WisdomTree Dreyfus Emerging Currency Fund CEW, which invests in developing world's currencies.