Reuters: US Dollar Report: EMERGING MARKETS-Latam FX up as data suggests continued U.S. stimulus

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EMERGING MARKETS-Latam FX up as data suggests continued U.S. stimulus Oct 22nd 2013, 13:48 Tweet Share this Email Print Reprints Tue Oct 22, 2013 9:48am EDT RIO DE JANEIRO, Oct 22 (Reuters) - Latin American currencies gained on Tuesday after a slower-than-expected jobs creation in the United States supported the view that U.S. stimulus will remain in place for longer, adding to investors' appetite for risk. The Mexican peso led gains in the region, up half a percentage point, after the U.S. Labor Department said employers added 148,000 jobs last month, fewer than the 180,000 posts expected by economists. "The negative economic data increase the chances that the U.S. Federal Reserve will be more cautious when cutting back on stimulus, which will result in a weaker dollar," said Flavio Serrano, senior economist with Espirito Santo Investment Bank in Sao Paulo. The U.S. non-farm payrolls data for September was delayed by a 16-day partial shutdown of the U.S. government this month. Latin American currencies had already rallied earlier this month as investors bet the Fed would keep the stimulus in place for longer to offset the negative economic impact of the shutdown. * The Mexican peso climbed 0.7 percent, recovering almost all of the losses incurred on Monday, when weak local retail sales data supported bets that the central bank will lower interest rates later this week. * Most analysts expect the Mexican central bank to cut its benchmark interest rate for the second month in a row on Friday, by 25 basis points to 3.5 percent, potentially reducing the allure of the peso. * The Brazilian real posted a more modest gain of 0.1 percent, however, as investors feared the central bank would not roll over all of the $8.9 billion worth of currency swaps that expire early next month. * Brazil's central bank said late on Monday it would offer as many as 20,000 currency swaps on Tuesday to start rolling over the nearly 200,000 contracts that mature on Nov. 1. The bank also said it could continue to roll over those swaps on Wednesday and Thursday, but did not specify how many contracts it would offer. Latin America FX prices at 1315 GMT: Currencies daily % YTD % change change Latest Brazil real 2.1790 0.10 -6.38 Mexico peso 12.9040 0.67 -0.31 Chile peso 500.3000 0.30 -4.32 Colombia peso 1880.2500 0.22 -6.08 Peru sol 2.7740 -0.29 -8.04 Argentina peso 5.8600 0.04 -16.17 Argentina peso 9.8600 0.20 -31.24 Tweet this Link this Share this Digg this Email Reprints Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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