Reuters: US Dollar Report: EMERGING MARKETS-Brazil real hit by weak data, Mexico peso slumps

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EMERGING MARKETS-Brazil real hit by weak data, Mexico peso slumps Jul 2nd 2013, 21:28 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Tue Jul 2, 2013 5:28pm EDT RIO DE JANEIRO, July 2 (Reuters) - Brazil's real sank on Tuesday after weak industrial output data deepened worries about slack growth in Latin America's top economy, while concerns about a withdrawal of U.S. stimulus measures hit Mexico's peso. Fears that the U.S. Federal Reserve may soon cut back on its stimulus program, which for years has supported the appetite for emerging-market currencies, were on the rise as some investors speculated that Friday's key U.S. non-farm payrolls data would come in stronger than expected. * Brazil's real shed 0.85 percent against the dollar, hurt by data showing domestic industrial production slumped twice as much as expected in May, adding to fears that Brazil was headed to a third year of subpar economic growth. * The real is slumping back near a more than 4-year low it hit last month. * Brazil's poor industry data also drove yields on interest-rate futures lower as it made it more difficult for the central bank to aggressively increase interest rates to fight rising inflation. * Mexico's peso MXN=D2> shed nearly 0.8 percent, pulling back after gaining more than 2.5 percent in the previous five sessions. * The Mexican currency's recent gains had pushed the cost of dollars in pesos below the psychological 13-per-dollar level in the previous two sessions, but the currency weakened back to trade around 13.05 per dollar on Tuesday. * Mexico's peso slumped past the 13 per dollar level last month on concerns that investors could pull out of Mexico if the Fed begins to withdraw stimulus measures. Latin American FX prices at 2115 GMT: Currencies daily % YTD % change change Latest Brazil real 2.2495 -0.85 -9.31 Mexico peso 13.0500 -0.78 -1.42 Chile peso 502.4000 0.30 -4.72 Colombia peso 1914.1500 0.45 -7.74 Peru sol 2.7830 -0.04 -8.34 Argentina peso 5.3925 -0.05 -8.90 Argentina peso 7.8800 1.27 -13.96 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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