Reuters: US Dollar Report: EMERGING MARKETS-Latam currencies weaken on US retail data

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EMERGING MARKETS-Latam currencies weaken on US retail data Aug 13th 2013, 13:20 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Tue Aug 13, 2013 9:20am EDT RIO DE JANEIRO, Aug 13 (Reuters) - Latin American currencies weakened on Tuesday after stronger-than-expected U.S. retail data suggested the world's largest economy is gaining enough traction to survive with less monetary stimulus. The data, which showed U.S. retail sales excluding cars, gasoline and building materials rising at their fastest pace in seven months, added to investors' fears that the U.S. Federal Reserve may soon scale back a bond-buying program that has fueled appetite for risk assets in emerging markets. * The Mexican peso dropped 0.7 percent to 12.7570 per dollar, adding to Monday's losses that were triggered by some disappointment over President Enrique Pena Nieto's proposed energy reform, which some investors considered too cautious. * The Mexican currency had closed stronger than 12.60 per dollar last week as expectations that the reform would attract sizable foreign investment into Mexico grew among investors. * Even as much of that optimism fizzled, some analysts say the Mexican currency is still poised to gain as investors may be underestimating the appetite of major oil companies to re-enter the Mexican market, from which they have been excluded for decades. * The Brazilian real weakened 0.6 percent, nearing the level of 2.3 per dollar. That left investors on watch for possible central bank intervention. * The Chilean peso slipped 0.4 percent, its losses cushioned by a rise in prices of copper, the country's main export product. Latin American FX prices at 1300 GMT: Currencies daily % YTD % change change Latest Brazil real 2.2989 -0.60 -11.26 Mexico peso 12.7570 -0.68 0.84 Chile peso 509.3000 -0.45 -6.01 Colombia peso 1882.0000 -0.27 -6.16 Peru sol 2.7950 0.00 -8.73 Argentina peso 5.5500 -0.14 -11.49 Argentina peso 8.7000 1.38 -22.07 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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