Reuters: US Dollar Report: CORRECTED-EMERGING MARKETS-Latam currencies dip, Fed stimulus cheer wanes

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CORRECTED-EMERGING MARKETS-Latam currencies dip, Fed stimulus cheer wanes Sep 20th 2013, 21:22 Tweet Share this Email Print Related Topics Currencies » Markets » Financials » Fri Sep 20, 2013 12:51pm EDT MEXICO CITY, Sept 20 (Reuters) - Latin American currencies slid Friday after a U.S. Federal Reserve official said the Fed could start winding down its stimulus program from October, which eroded some of the optimism that followed the Fed's recent decision to maintain stimulus. Brazil's real slipped 0.16 percent to trade at 2.2035 per dollar, its second day of losses after the Fed's Wednesday announcement, that it will stand pat on stimulus for now, helped the currency post its strongest gains in more than three months. "We saw a bit of euphoria with the Fed decision, but the international market is making its adjustments. Our situation is the same here as it was before the Fed," said Reginaldo Galhardo, head of foreign exchange at Treviso Corretora en Sao Paolo, who expects the currency to settle in the 2.2 to 2.3 reais per dollar range. The Fed's unprecedented $85 billion monthly bond buying program had supported investor appetite for risky assets and expectations of its wind-down had spurred volatility across emerging markets. Comments from St. Louis Fed President James Bullard early on Friday that the Fed could wind down stimulus at its October meeting spurred concerns about the impact of such a move. Mexico's peso weakened more than 0.5 percent to 12.78 per dollar after dovish central bank minutes released Friday showed board members were divided over a surprise cut delivered early this month to spur growth. But analysts stuck to bets that the bank could cut rates again, after growth contracted in the second quarter and heavy rains caused massive flooding across Mexico, raising the specter of weak growth in the third quarter. Key Latin American currencies at 1559 GMT: Currencies daily % YTD % change change Latest Brazil real 2.2035 -0.16 -7.42 Mexico peso 12.7800 -0.55 0.66 Chile peso 502.1000 0.18 -4.66 Colombia peso 1888.500 -0.29 -6.49 0 Peru sol 2.7350 -0.07 -6.73 Argentina peso 5.7575 0.00 -14.68 Argentina peso 9.3600 0.00 -27.56 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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