Cop Weekly Outlook

Quotes from BofA Merrill Lynch Global Research:

COP Bearish:

- We recommend a short position on the Colombian peso. We like long MXN/COP.

- We do not expect an interest rate increase until 2015. Central bank intervention, loose monetary policy and no longer increasing foreign direct investment inflows will keep the peso weak, in our view.

- The central bank extended the dollar purchase program, deciding to buy up to $1bn in 1Q14. The 3m carry is 3.3%. The material has been provided by InstaForex Company – www.instaforex.com

Read more here: Cop Weekly Outlook