Reuters: US Dollar Report: EMERGING MARKETS-Latam forex near unchanged; US debt talks in focus

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EMERGING MARKETS-Latam forex near unchanged; US debt talks in focus Oct 11th 2013, 15:08 Tweet Share this Email Print Reprints Related Topics Currencies » Bonds News » Bonds » Markets » Fri Oct 11, 2013 11:08am EDT RIO DE JANEIRO, Oct 11 (Reuters) - Latin American currencies were little changed on Friday as investors held onto to Thursday's sharp gains fueled by greater signs of an agreement to stave off a possible U.S. debt default. Investors cautiously hoped that Republicans and Democrats would make progress during the weekend on a deal to allow the U.S. Treasury to keep borrowing past Oct. 17 and ensure Washington can keeping paying its bills. News that Republican lawmakers were offering a plan to extend the Treasury's borrowing authority for several weeks triggered a rally in Latin American currencies on Thursday, driving the Brazilian real more than 1 percent higher while boosting the Mexican peso by some 0.9 percent. "As the week draws to a close, the fears of a default have eased," currency strategists with Brown Brothers Harriman wrote in a research note. "We expect more progress over the weekend toward a temporary solution that creates a window - maybe six weeks or so - in order to negotiate." * The Brazilian real was flat at 2.181 after closing on Thursday at its strongest level in almost four months. The currency has also been boosted by expectations that the central bank will raise interest rates more aggressively, increasing the allure of assets denominated in the local currency. * Brazil's interest-rate futures edged higher, extending a sharp Thursday rally that was triggered by signs that the central bank will keep raising interest rates toward double digits. * Mexico's peso gained 0.1 percent to 13.0935 per dollar, strengthening past its 14-day moving average of 13.10. Latin America FX prices at 1440 GMT: Currencies daily % YTD % change change Latest Brazil real 2.1810 -0.03 -6.46 Mexico peso 13.0935 0.09 -1.75 Chile peso 497.5000 -0.12 -3.78 Colombia peso 1885.500 0.06 -6.34 0 Peru sol 2.7720 -0.07 -7.97 Argentina peso 5.8300 0.00 -15.74 Argentina peso 9.6800 1.14 -29.96 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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