Lea en español.Chile’s peso jumped on Monday as a landslide victory for Communist Jeannette Jara in a left-wing presidential primary damped the chances of that alliance winning November’s election.The peso gained as much as 1%,

Chilean communist Jeannette Jara defeated her center-left rival to win the presidential nomination for Chile’s left-wing coalition in a landslide. Jara secured over 60% of the vote, signaling the Chilean Left’s commitment to shift even further left in the face of a resurgent Right.

Jara’s anointment comes as polls show far-right candidate José Antonio Kast of the Republican party leading the race with a campaign focused on rising concern over organised crime and immigration.