Reuters: US Dollar Report: EMERGING MARKETS-Latam FX little changed amid Cyprus concerns

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-Latam FX little changed amid Cyprus concerns Mar 25th 2013, 23:12 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Mon Mar 25, 2013 7:12pm EDT * Potential for Brazil currency intervention eyed * Mexico peso flat, Brazil real dips 0.05 pct By Natalia Cacioli and Bruno Federowski MEXICO CITY, March 25 (Reuters) - Latin American currencies were little changed on Monday as concerns about a Cyprus bailout deal weighed on demand for riskier assets around the globe. News of a last-minute deal to save Cyprus from a financial meltdown gave way to broader concerns about Europe's banking sector. "The market is oscillating in the wake of such information from Europe," said Luciano Rostagno, chief strategist at WestLB bank. Brazil's real bid at 2.0105 per dollar, 0.05 percent weaker than Friday's close. It crossed on Thursday the 2-per-dollar mark that many analysts believed to be a boundary of an informal trading range imposed by policymakers. Since then, investors have been wary of a possible central bank intervention to stem currency losses. Many analysts say the bank is unlikely to allow the real to depreciate too much to avoid inflation pass-through. In Mexico, the peso was flat at 12.3590 per dollar. It gained more than half a percentage point on Friday after higher-than-expected inflation data suggested the central bank will be unable to further lower interest rates in coming months. Mexico's peso is trading near a more than 1-1/2 year high, hit last week, and the currency is seen gaining more ground on expectations that the new government will push major economic reforms through a divided Congress this year. "The peso looks very stable because the view remains that foreign investors will keep pouring in. Moreover, with all this issue of global risk, the Mexican economy looks pretty stable," said Rafael Camarena, an economist at Santander in Mexico City. Latin American FX prices at 2230 GMT: Currencies daily % YTD % change change Latest Brazil real 2.0105 -0.05 1.47 Mexico peso 12.3590 0.00 4.09 Chile peso 472.8000 -0.02 1.25 Peru sol 2.5830 0.27 -1.24 Argentina peso 5.1150 -0.05 -3.96 Argentina peso 8.2200 3.16 -17.52 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