Reuters: US Dollar Report: EMERGING MARKETS-Mexico peso up 5th day, U.S. data buoys Latam FX

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

EMERGING MARKETS-Mexico peso up 5th day, U.S. data buoys Latam FX Mar 13th 2013, 15:09 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Wed Mar 13, 2013 11:09am EDT * Brazil real hovers near unchanged on intervention fears * Mexico peso gains 0.4 pct, Brazil real up 0.1 pct By Walter Brandimarte RIO DE JANEIRO, March 13 (Reuters) - The Mexican peso gained for a fifth consecutive session on Wednesday, leading Latin American currencies higher, as data showed U.S. retail sales rose in February more than twice as much as economists expected. The data boosted prospects for Mexico's economy, adding to investor optimism about a series of structural reforms planned by the new government of President Enrique Pena Nieto. The United States is the main destination for Mexican exports. The Mexican peso firmed 0.4 percent to 12.3955 per dollar, piercing the mark of 12.4 per greenback for the first time in 18 months. Since March 6, the peso has gained more than 3 percent against the dollar. Pena Nieto, who took office in December, unveiled a plan this week to allow more competition in the telecommunications sector, raising hopes that structural reforms are gaining traction in Latin America's second-largest economy. He has also promised changes to the country's tax system and its state-run energy sector in a bid to attract more investment and boost growth to 6 percent a year, about three times the average of the past decade. The reform outlook encouraged rating agency Standard & Poor's to signal on Tuesday it may upgrade Mexico's credit rating within the next 18 months. Other Latin American currencies posted more modest gains as an increase in Italy's borrowing costs kept investor optimism in check. The Brazilian real rose 0.1 percent to 1.9595 per dollar. Its gains were also curbed by expectations the central bank would intervene in the market to curb any sharp moves in the exchange rate. "The U.S. data came in better than expected and that is offsetting Europe," said Mauricio Nakahodo, an economic consultant with Tokyo-Mitsubishi bank in Sao Paulo, referring to fears Italy could rekindle the European debt crisis. Latin American FX prices at 1445 GMT: Currencies daily % YTD % change change Latest Brazil real 1.9595 0.15 4.11 Mexico peso 12.3955 0.40 3.78 Chile peso 471.0000 -0.04 1.63 Colombia peso 1799.4000 0.04 -1.86 Peru sol 2.5930 0.04 -1.62 Argentina peso 5.0775 0.00 -3.25 Argentina peso 7.8500 -0.13 -13.63 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.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions