EMERGING MARKETS-Latam stocks, currencies seesaw on Fed rate hike bets
By Bruno Federowski SAO PAULO, Aug 29 (Reuters) - Latin American stocks and currencies seesawed on thin trading volumes on Monday as comments from U.S. Federal Reserve policymakers boosted uncertainty about the prospect of an imminent rate hike. Fed Chair Janet Yellen said on Friday the case for an increase has grown but refrained from mentioning a specific timeframe. But her Vice Chair Stanley Fischer later said her comments were consistent with the possibility of a September hike, boosting the dollar's value all over the world. Traders now will turn to Friday's U.S. payroll report for clues over the Fed's monetary policy. The Brazilian real strengthened 0.7 percent after dropping 1.3 percent on Friday following Fischer's remarks. Traders also followed the final steps of suspended President Dilma Rousseff's Senate trial, which is widely expected to confirm her impeachment late Tuesday or in the early hours of Wednesday. Rousseff said on Monday the future of Brazil was at stake as her conservative opponents were using trumped-up charges to oust her and roll back the social advances of the past 13 years. "Caution prevails because this is a week of key market events," said José Carlos Amado, a trader with Spinelli brokerage. Brazil's benchmark Bovespa stock index rose, however, supported by shares in blue-chip companies such as state-controlled oil company Petróleo Brasileiro SA and miner Vale SA. Key Latin American stock indexes and currencies at 1540 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 896.20 -0.58 13.51 MSCI LatAm 2425.11 -0.62 33.36 Brazil Bovespa 58439.96 1.25 34.81 Mexico IPC 47476.00 0.22 10.47 Chile IPSA 4160.86 0.44 13.06 Chile IGPA 20618.74 0.43 13.59 Argentina MerVal 15950.87 1.18 36.62 Colombia IGBC 10097.39 -0.12 18.13 Venezuela IBC 11916.94 -0.47 -18.31 Currencies daily % YTD % change change Latest Brazil real 3.2479 0.72 21.52 Mexico peso 18.5730 0.15 -7.23 Chile peso 671.2 -0.48 5.74 Colombia peso 2923.52 -0.87 8.41 Peru sol 3.368 -0.45 1.37 Argentina peso (interbank) 15.0800 -0.46 -13.91 Argentina peso (parallel) 15.44 0.32 -7.58 (Reporting by Bruno Federowski; Editing by Bill Trott)
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