Reuters: US Dollar Report: EMERGING MARKETS-Brazil real gains on inflows, Mexico peso dips

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EMERGING MARKETS-Brazil real gains on inflows, Mexico peso dips Jan 8th 2013, 00:34 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Mon Jan 7, 2013 7:34pm EST * Dollar inflows seen boosting Brazilian real in early 2013 * Mexican peso drops in sync with Wall Street * Brazil real gains 0.3 pct; Mexican peso drops 0.2 pct SAO PAULO, Jan 7 (Reuters) - The Brazilian real drifted higher on Monday as dollars flowed back into the country, but the Mexican peso dipped in line with U.S. stocks, with investors pocketing recent gains. Trading volumes remained subdued after the holiday period, as a U.S. session void of relevant economic data releases failed to inspire investors. The Brazilian real gained 0.3 percent to 2.029 per greenback as dollars resumed flowing following a seasonal period of scarcity. Recent measures taken by the central bank to facilitate foreign capital inflows also supported the currency. "Outflows have been diminishing and we're even seeing (net) inflows after the end of the year, when companies often send profits abroad and hedge their FX positions," said Mauricio Nakahodo, an economic research consultant with Tokyo-Mitsubishi bank in Sao Paulo. Inflation concerns also caused many investors to bet the central bank would favor a real just slightly weaker than 2 per dollar to avoid a pass-through to prices. In Mexico, the peso weakened 0.2 percent to 12.7650 after a 1 percent rally in the first week of the year. Traders said investors were pocketing part of those gains, taking a cue from equity losses on Wall Street. Latin American FX prices at 1802 GMT: Currencies daily % year-to- change ate % Latest change Brazil real 2.029 0.3 0.52 Mexico peso 12.7650 -0.2 0.74 Argentina peso* 7.0200 0.28 -3.55 Chile peso 471.2000 0.36 1.59 Colombia peso holiday n/a n/a Peru sol 2.5450 0.00 -0.24 * Argentine peso's rate between brokerages 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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