Reuters: US Dollar Report: EMERGING MARKETS-Latam currencies ease on U.S. data, China worries

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EMERGING MARKETS-Latam currencies ease on U.S. data, China worries Jul 26th 2013, 20:14 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Fri Jul 26, 2013 4:14pm EDT RIO DE JANEIRO, July 26 (Reuters) - Latin American currencies weakened on Friday as stronger-than-expected U.S. economic data fueled fears of an early withdrawal of stimulus measures by the Federal Reserve, while lingering concerns about the Chinese economy hit the outlook for commodity exporters. U.S. consumer sentiment rose in July to its highest level in six years, according to a survey, providing yet another argument for the Federal Reserve to cut down on a stimulus program that for years has supported appetite for emerging market currencies. Despite growing fears in Latin American markets about the future of U.S. stimulus, investors in global bond and currency markets speculated that the Fed may signal at the end of its two-day monetary policy meeting on Wednesday that its bond-buying program should remain in place for longer. * The Brazilian real lost 0.7 percent even after the central bank sold 20,000 traditional currency swaps, derivative contracts that emulate a sale of dollars in the futures market. * With Friday's auction, Brazil's central bank concluded the rollover of 114,300 swaps that expire on Aug. 1. It also placed 5,700 new swap contracts maturing on Jan. 2, 2014. * The Mexican peso lost 0.4 percent, also hurt by central bank minutes showing that policymakers are ready to cut interest rates if growth keeps slowing. * The Chilean peso dropped half a percentage point as concerns about the Chinese economy drove down prices of copper, Chile's main export product. Latin American FX prices at 2005 GMT: Currencies Daily YTD pct pct change Latest change Brazil real 2.2549 -0.75 -9.53 Mexico peso 12.6670 -0.45 1.56 Chile peso 507.4000 -0.47 -5.66 Colombia peso 1885.2000 0.12 -6.32 Peru sol 2.7830 0.07 -8.34 Argentina peso 5.4800 0.00 -10.36 Argentina peso 8.6200 0.46 -21.35 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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