Reuters: US Dollar Report: EMERGING MARKETS-Latam currencies up as Fed seen signaling stimulus to stay

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EMERGING MARKETS-Latam currencies up as Fed seen signaling stimulus to stay Oct 30th 2013, 13:44 Tweet Share this Email Print Reprints Related Topics Currencies » Bonds News » Bonds » Markets » Wed Oct 30, 2013 9:44am EDT RIO DE JANEIRO, Oct 30 (Reuters) - Latin American currencies rose on Wednesday as investors bet the U.S. Federal Reserve will signal its stimulus measures will remain in place into 2014, supporting appetite for risk in emerging markets. 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 at 2 p.m. (1800 GMT) for clues on when it might begin to reduce bond purchases. Recent economic data underscoring the fragility of the U.S. economic recovery, such as a Wednesday report showing that the private sector hired in October the fewest number of workers in six months, have fueled bets that the Fed will not start tapering its bond-buying program until March 2014. * The Brazilian real gained 0.3 percent, also 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 rose 0.4 percent, as investors watched the progress of a tax reform aimed at raising government revenues. * The Chilean peso climbed 0.3 percent after prices of copper, the country's main export product, jumped more than 1 percent to their highest level in a week. Latin America FX prices at 1315 GMT: Currencies daily % YTD % change change Latest Brazil real 2.1880 0.31 -6.76 Mexico peso 12.8810 0.37 -0.13 Chile peso 507.4000 0.26 -5.66 Colombia peso 1881.1500 0.12 -6.12 Peru sol 2.7640 -0.29 -7.71 Argentina peso 5.8950 0.00 -16.67 Argentina peso 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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