EMERGING MARKETS-Latam currencies seesaw ahead of Fed minutes
By Bruno Federowski SAO PAULO, April 6 (Reuters) - Latin American currencies seesawed on Wednesday ahead of minutes from the last policy meeting of the U.S. Federal Reserve. Over the past two weeks, Fed policymakers including Chair Janet Yellen have raised questions over the timing of the next U.S. interest rate increase, sparking volatility in financial markets. Emerging market assets, which typically offer high yields, could suffer from capital outflows by policy tightening in the United States, traders said. The Brazilian real strengthened after the central bank refrained from intervening to weaken the currency after doing so repeatedly over the last weeks. However, the country's benchmark Bovespa stock index fell as traders pared bets on President Dilma Rousseff's ouster. Many investors regard the interventionist policies pursued during her first term in government as a key cause behind Brazil's ongoing economic slump. Markets have often rallied when chances of her impeachment seemed to increase, but expectations have been growing that the government could survive the impeachment proceedings. Shares of state-controlled oil company Petroleo Brasileiro SA were flat despite a nearly 5 percent jump in crude prices. State-owned bank Banco do Brasil SA also fell. Shares of Marfrig Global Foods SA rose 2 percent after the company agreed to sell units in Argentina to a subsidiary of China's Foresun Group for $75 million. Key Latin American stock indexes and currencies at 1545 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 810.78 -0.27 2.37 MSCI LatAm 2064.25 -0.24 13.08 Brazil Bovespa 48576.45 -0.97 12.06 Mexico IPC 45278.31 0.2 5.35 Chile IPSA 3894.15 -0.67 5.81 Chile IGPA 19105.04 -0.58 5.25 Argentina MerVal 12515.95 0.34 7.20 Colombia IGBC 9731.87 0.25 13.86 Venezuela IBC 14903.51 0.05 2.16 Currencies daily % YTD % change change Latest Brazil real 3.6527 0.76 8.06 Mexico peso 17.6650 0.14 -2.46 Chile peso 674.9 0.09 5.16 Colombia peso 3074.15 0.35 3.09 Peru sol 3.3731 -0.30 1.21 Argentina peso (interbank) 14.6750 0.07 -11.53 Argentina peso (parallel) 14.97 0.87 -4.68 (Reporting by Bruno Federowski; Additional reporting by Paula Arend Laier; Editing by Diane Craft)
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