Reuters: US Dollar Report: EMERGING MARKETS-Latam FX up on China, Brazil cenbank boosts real

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EMERGING MARKETS-Latam FX up on China, Brazil cenbank boosts real Aug 9th 2013, 15:10 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Fri Aug 9, 2013 11:10am EDT RIO DE JANEIRO, Aug 9 (Reuters) - Stronger-than-expected Chinese economic data buoyed Latin American currencies for a second consecutive session on Friday, with the Brazilian real further boosted by central bank intervention. The Mexican peso's gains, however, were checked by weaker-than-expected industrial production data. Also clouding investor sentiment were doubts on when the government would unveil its energy reform plans. Emerging market currencies in general benefited from data showing China's factory output grew in July at its fastest pace since the beginning of the year, adding to a series of data suggesting the world's No.2 economy is stabilizing. China is the main consumer of Latin America's commodities exports and data on Thursday showed Chinese imports of crude oil and iron ore rebounded from multi-month lows to record highs last month. * The Brazilian real gained 0.8 percent to 2.2675 per dollar, its strongest intraday level in more than a week, also boosted by a central bank sale of 20,000 traditional currency swaps maturing on Jan. 2, 2014. * Brazil's central bank has been offering swaps, derivative contracts that emulate an injection of dollars in the futures market, to provide dollar liquidity to the foreign exchange market. * Mexico's peso rose a more modest 0.3 percent, however, on lingering concerns about lack of political support for a proposed energy reform that could attract sizable foreign investment to the country. * Also weighing on the Mexican currency was data showing industrial output was steady in June versus May, falling short of economists' expectations of a 0.3 percent expansion. * The Chilean peso gained 0.3 percent after prices of copper, the country's main export product, added to recent gains on the Chinese data. Latin American FX prices at 1442 GMT: Currencies daily % YTD % change change Latest Brazil real 2.2675 0.82 -10.03 Mexico peso 12.5645 0.28 2.39 Chile peso 506.6000 0.34 -5.51 Colombia peso 1876.0500 0.05 -5.87 Peru sol 2.7870 0.07 -8.47 Argentina peso 5.5425 -0.05 -11.37 Argentina peso 9.0000 -0.33 -24.67 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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