EMERGING MARKETS-Latam markets edge up as global markets await Fed
BRASILIA, April 26 (Reuters) - Latin American currencies and stocks gained on Tuesday as investors favored riskier assets and shed the U.S. dollar ahead of monetary policy meetings in the United States and Japan. The currencies of Brazil, Colombia, Chile and Mexico all strengthened against the U.S. dollar as the price of oil and other commodities rose. Brazil's Bovespa stock index and the broader MSCI Latin American stock index gained about 1 percent, with state-run oil producer Petrobras rising more than 1 percent, nearing an eight-month high. Investors waited for a Federal Reserve rate decision on Wednesday and a Bank of Japan policy update on Thursday for signs of additional easing in major economies as global economic growth continued to disappoint. Helping drive the Brazilian real higher was the lack of central bank intervention, traders said, after weeks of large operations in derivatives markets to curb currency gains. "The main reason for the dollar decline (against the Brazilian real) is the central bank's absence. But if the currency goes too far, to near 3.50 reais, I think the central bank could intervene," said João Paulo de Gracia Corrêa, head of foreign exchange trading at Brazilian brokerage SLW. Key Latin American stock indexes and currencies at 1507 GMT: Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 842.33 0.37 5.67 MSCI LatAm 2212.64 1.11 19.59 Brazil Bovespa 52518.64 1.27 21.15 Mexico IPC 45478.38 -0.23 5.82 Chile IPSA 3948.65 -0.12 7.29 Chile IGPA 19432.26 -0.11 7.06 Argentina MerVal 13484.80 0.82 15.50 Colombia IGBC 10073.79 0.24 17.86 Venezuela IBC 15921.10 0.1 9.14 Currencies daily % YTD % change change Latest Brazil real 3.5316 0.44 11.76 Mexico peso 17.4335 0.75 -1.17 Chile peso 669.1 0.10 6.07 Colombia peso 2945.13 0.68 7.61 Peru sol 3.2792 0.30 4.11 Argentina peso (interbank) 14.3150 0.10 -9.31 Argentina peso (parallel) 14.74 0.75 -3.19 (Reporting by Flavia Bohone; Writing by Silvio Cascione; Editing by Meredith Mazzilli)
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