EMERGING MARKETS-Latam stocks, currencies seesaw ahead of Yellen speech
SAO PAULO, Aug 25 (Reuters) - Latin American stocks and currencies seesawed on Thursday as traders avoided big bets ahead of U.S. Federal Reserve Chair Janet Yellen's speech on Friday. Investors have been eagerly awaiting Yellen's remarks at the global central bankers meeting in Jackson Hole, Wyoming, since late last week. Comments by various Fed policymakers have raised expectations that the U.S. central bank could be eyeing an interest rate increase as soon as September, reducing the allure of high-yielding emerging market assets. Also fostering caution in Brazilian markets was suspended President Dilma Rousseff's trial at the Senate, which was widely expected to permanently confirm her impeachment. A final vote is likely to confirm her vice president Michel Temer as Brazil's new leader late on Tuesday or in the early hours on Wednesday. Rousseff is charged with meddling with fiscal accounts but denies any wrongdoings. "From a market standpoint, the impeachment of President Dilma should be close to fully priced," Goldman Sachs economist Alberto Ramos wrote in a report. "Hence, post-impeachment, the market will likely focus on the willingness and capacity of the Temer administration to accelerate and deepen the fiscal adjustment, and the capacity to engage the allied base in Congress towards that goal." Brazil's real currency slipped 0.4 percent while the benchmark Bovespa stock index advanced 0.5 percent, supported by financial shares. Key Latin American stock indexes and currencies at 1515 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 898.47 0.19 12.92 MSCI LatAm 2431.51 0.45 32.28 Brazil Bovespa 58012.70 0.51 33.82 Mexico IPC 47722.39 -0.04 11.04 Chile IPSA 4153.14 -0.16 12.85 Chile IGPA 20560.60 -0.11 13.27 Argentina MerVal 15885.90 0.44 36.07 Colombia IGBC 10089.41 0.22 18.04 Venezuela IBC 11915.82 0.01 -18.32 Currencies daily % YTD % change change Latest Brazil real 3.2355 -0.41 21.99 Mexico peso 18.4380 0.06 -6.55 Chile peso 665 0.75 6.72 Colombia peso 2917.59 0.86 8.63 Peru sol 3.352 0.00 1.85 Argentina peso (interbank) 14.8825 -0.15 -12.77 Argentina peso (parallel) 15.46 0.32 -7.70 (Reporting by Bruno Federowski; Editing by Meredith Mazzilli)
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