Reuters: US Dollar Report: EMERGING MARKETS-Real drops to 6-month low, Mexico peso to 11-week low

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EMERGING MARKETS-Real drops to 6-month low, Mexico peso to 11-week low May 29th 2013, 22:03 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Wed May 29, 2013 6:03pm EDT RIO DE JANEIRO, May 29 (Reuters) - The Brazilian real slumped to a near six-month low on Wednesday after Finance Minister Guido Mantega said he saw no need for government intervention in the exchange rate, while continued fears of a tapering in U.S. stimulus measures drove the Mexican peso to an 11 week-low. Latin American currencies have posted losses over the past two weeks on concerns that the U.S. Federal Reserve may soon cut back on stimulus measures that have provided a steady source of dollars seeking higher returns in emerging markets. * The Brazilian real lost 1.9 percent to 2.1126 per dollar, its weakest level since early December, after Mantega said the government is not worried about a weaker real as the currency is not a tool to fight inflation. * The real's slide defied expectations that the central bank, worried about inflation pass-through, would intervene to prevent the currency from sliding past 2.1 per greenback. * The Mexican peso fell as much as 12.7452 per dollar, its weakest since March 8. * The cost of dollars in Mexican pesos shot up through its 200-day moving average for the first time since last November. The break of the key measure could tempt in bargain hunters who think a recent slump has gone too far, or it could bode for deeper losses ahead. * The Colombian peso rose 0.3 percent to 1,892.40 per dollar, in a technical rebound from recent losses. Latin American FX prices at 2150 GMT: Currencies daily % YTD % change change Latest Brazil real 2.1126 -1.86 -3.44 Mexico peso 12.6460 -0.11 1.73 Chile peso 490.0000 0.29 -2.31 Colombia peso 1892.4000 0.32 -6.68 Peru sol 2.7000 -0.70 -5.52 Argentina peso 5.2750 -0.05 -6.87 Argentina peso 8.8300 0.57 -23.22 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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