Reuters: US Dollar Report: EMERGING MARKETS-Latam currencies nudge up before Fed statement

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EMERGING MARKETS-Latam currencies nudge up before Fed statement Jun 19th 2013, 16:19 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Wed Jun 19, 2013 12:19pm EDT SAO PAULO, June 19 (Reuters) - Latin American currencies gained on Wednesday, partly recovering from recent losses, but investors traded cautiously ahead of a key Federal Reserve statement which may give clues about the future of U.S. monetary stimulus measures. Currencies in the region have suffered in the past few weeks on fears that the Fed may soon begin to slow down a bond-buying program that has provided a steady source of dollars seeking higher returns in emerging markets. The Fed's policy-setting Federal Open Market Committee will announce its decision at 2:00 p.m. EDT (1800 GMT) and Chairman Ben Bernanke will hold a news conference 30 minutes later. * Brazil's real gained 0.2 percent to 2.173 per dollar after reaching a four-year intraday low of over 2.18 per greenback. It has lost about 8 percent since the beginning of May, despite multiple central bank interventions in the foreign exchange market. * Traders said the real edged higher as exporters took advantage of the recent losses to bring dollars into the country. "But markets will continue to pressure the currency lower," said Reginaldo Galhardo, a manager at the currency desk of Treviso brokerage in Sao Paulo. * Mexico's peso firmed 0.3 percent after sliding over 2 percent during the past three sessions. * Chile's peso was little changed, however, as the price of copper, its main export product, dropped to a six-week low. Latin American FX prices at 1605 GMT: Currencies daily % YTD % change change Latest Brazil real 2.1731 0.20 -6.12 Mexico peso 12.8719 0.30 -0.06 Chile peso 499.8000 -0.02 -4.22 Colombia peso 1899.0000 0.28 -7.00 Peru sol 2.7340 0.40 -6.69 Argentina peso 5.3450 -0.05 -8.09 Argentina peso 8.5200 0.35 -20.42 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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