US Treasury Stepped Out of Argentine FX Market on Monday

Argentine peso strengthened on Monday without the US Treasury needing to intervene in the spot or futures market, according to people with direct knowledge of the matter.

• The US Treasury didn’t trade in the futures market, either directly or as a client, one of the people said
  • The US Treasury wasn’t present in the spot market either, according to another person
• Peso jumped around 5% and peso futures rose up to 6.4% on Monday
• The US Treasury didn’t immediately respond to a request for comment
• NOTE: Argentina’s Economy Minister Luis Caputo said Sunday that the U.S. Treasury was considering stepping ...