EMERGING MARKETS-Brazil currency slips as investors wait for Temer's agenda
(Updates prices) BRASILIA, May 12 (Reuters) - Brazil's currency lost ground on Thursday, as investors waited for interim President Michel Temer to outline his policy framework following a Senate decision to put Dilma Rousseff on impeachment trial. The real, Brazil's currency, weakened 0.8 percent, erasing recent gains after the central bank eased upward pressure on the currency by selling reverse currency swaps for a second day. Temer, who plans to host a news conference in Brasilia on Thursday afternoon, is expected to propose an overhaul of the nation's pension system at the forefront of his agenda, key advisers told Reuters. He tapped Henrique Meirelles to be finance minister, giving the former banker the daunting task of fixing public finances and pulling the country out of its worst recession in decades. "The political transition offers the hope, but not the certainty, of better policies," wrote Alberto Ramos, head of Latin America economic research at Goldman Sachs, in a note. Senators voted 55 to 22 to put Rousseff on trial, ending more than 13 years of rule by her leftist Workers Party. Chances are small that Rousseff, a 68-year-old economist and former guerrilla fighter, is acquitted in a trial that could last as long as six months, according to analysts. Elsewhere in Latin America, the Chilean peso weakened as commodities prices fell. Key Latin American stock indexes and currencies at 2000 GMT: Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 805.97 -0.25 1.74 MSCI LatAm 2219.81 0.33 20.91 Brazil Bovespa 53346.45 1.1 23.06 Mexico IPC 45685.82 0.39 6.30 Chile IPSA 4015.10 0.37 9.10 Chile IGPA 19722.35 0.36 8.65 Argentina MerVal 13402.25 -0.99 14.79 Colombia IGBC 10005.74 1.12 17.06 Venezuela IBC 15368.74 0.02 5.35 Currencies daily % YTD % change change Latest Brazil real 3.4720 -0.80 13.65 Mexico peso 17.9710 0.11 -4.12 Chile peso 685.2 -0.76 3.58 Colombia peso 2946 -0.30 7.58 Peru sol 3.326 0.09 2.65 Argentina peso (interbank) 14.1500 0.42 -8.25 Argentina peso (parallel) 14.65 -0.34 -2.59 (Reporting by Silvio Cascione; Additional reporting by Joanna Zuckerman Bernstein in Mexico City; Editing by Nick Zieminski and Diane Craft)
© Thomson Reuters 2017 All rights reserved.