Reuters: US Dollar Report: EMERGING MARKETS-Latam currencies little changed before Fed remarks

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EMERGING MARKETS-Latam currencies little changed before Fed remarks Oct 29th 2013, 23:34 Tweet Share this Email Print Reprints Related Topics Currencies » Bonds News » Bonds » Markets » Tue Oct 29, 2013 7:34pm EDT RIO DE JANEIRO, Oct 29 (Reuters) - Latin American currencies weakened slightly on Tuesday as investors awaited the U.S. Federal Reserve to shed light on the future of its stimulus program, which will be key factor in the appeal of risk for investors over the next few months. The Fed is widely expected to keep buying $85 billion worth of bonds per month for the time being, but investors are eagerly awaiting the statement at the end of its two-day monetary policy meeting on Wednesday for clues on when it might begin to reduce bond purchases. Expectations the U.S. central bank will not start tapering its bond-buying program until March 2014 boosted the appetite of investors for emerging markets assets last week. * The Brazilian real weakened 0.12 percent to close at 2.1812 per dollar. The currency has been supported by a central bank plan to roll over most of the currency swaps that expire on Nov. 1. Those swaps are derivatives that offer investors protection against a possible weakening of the currency. * The Mexican peso 12.9290 per dollar, easing 0.35 percent after the central bank cut interest rates on Friday for the third time this year to counter a slump in growth. * The Chilean peso lost 0.33 percent as investors continued to cut long positions after the currency weakened past its 100-day simple moving average in the previous session. Latin America FX prices at 2253 GMT: Currencies daily % YTD % change change Latest Brazil real 2.1812 -0.12 -6.47 Mexico peso 12.9290 -0.35 -0.50 Chile peso 508.7000 -0.33 -5.90 Colombia peso 1883.4900 0.03 -6.24 Peru sol 2.7640 -0.29 -7.71 Argentina peso (interbank) 5.8925 0.00 -16.63 Argentina peso (parallel) 9.8700 -1.22 -31.31 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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