Reuters: US Dollar Report: EMERGING MARKETS-Latam currencies gain on US stimulus bets

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EMERGING MARKETS-Latam currencies gain on US stimulus bets Jul 25th 2012, 16:17 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Wed Jul 25, 2012 12:17pm EDT By Natalia Cacioli SAO PAULO, July 25 (Reuters) - Key Latin American currencies edged higher on Wednesday, halting a three-day slide, as investors speculated the U.S. Federal Reserve may soon deploy additional monetary stimulus, which would boost the flow of dollars into emerging economies. Gains seemed fragile, however, as economic concerns and disappointing corporate earnings weighed on global equity markets, dampening investor sentiment in general. The Brazilian real rose 0.2 percent, trimming some initial gains as major Wall Street indexes turned negative on disappointing results from Apple Inc. The Mexican peso gained 0.3 percent, while the Chilean peso was 0.5 percent stronger. "Expectations that the Fed may move up its third round of stimulus to August encouraged investors," said Luciano Rostagno, chief strategist at WestLB bank in Sao Paulo. Also supporting Latin American currencies was a report showing that a European Central Bank policymaker opened up to the idea of giving Europe's new permanent rescue fund a banking license, which would enable it to borrow unlimited central bank money and boost its capacity to fight the crisis. The currencies of Brazil, Mexico and Chile had posted losses in the past three sessions as tensions in the euro zone rose and investors speculated Spain could need a full bailout that would further stretch the euro zone's finances. Latin American FX prices at 1600 GMT: Currencies daily % YTD % change change Latest Brazil real 2.0384 0.24 -8.33 Mexico peso 13.6670 0.29 2.21 Argentina peso* 6.4200 0.16 -26.32 Chile peso 492.3000 0.49 5.48 Colombia peso 1,803.0000 0.01 7.51 Peru sol 2.6380 0.11 2.24 Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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