November 15, 2016 / 1:22 AM / 2 years ago

EMERGING MARKETS-Mexico peso firms after Trump softens tone

(Recasts with peso gains, closing prices)
    MEXICO CITY, Nov 14 (Reuters) - Mexico's peso firmed on
Monday, bouncing back from historic lows last week after U.S.
President-elect Donald Trump softened some of his campaign
rhetoric that had been directed southward while Brazil's real
    The Mexican peso rallied nearly 0.8 percent,
bouncing back from steep losses as the dollar gained nearly 10
percent against the peso last week. The tumble made the peso the
world's worst-performing currency this year, behind the British
    During his election campaign, Trump threatened to rip up a
North American free-trade agreement and build a wall between
Mexico and the United States, while also saying he would deport
about 11 million people living illegally in the United States.
    In an interview aired on Sunday, however, Trump said some
areas on the border may instead have "fencing" and added he
would move to deport up to 3 million migrants in the country
illegally who have criminal records. 
    Meanwhile, the Brazilian real weakened ahead of a local
    Trump's promises to create jobs through increased government
spending on infrastructure could spur inflation and force the
U.S. Federal Reserve to raise rates, sapping demand for
higher-risk emerging market assets. 
    The real bid lower by 1.4 percent.
    Brazil's benchmark Bovespa stock index rose,
supported by shares of miner Vale SA as iron ore
futures in China climbed to their highest in nearly three years
on stronger prices of steel and coking coal.
    Stock market gains in Sao Paulo were limited, however, by
falling shares of EcoRodovias SA, which weakened 7.8
percent in the session.
    Key Latin American stock indexes at 2200 GMT:
 Stock indexes         Latest     Daily pct    YTD pct
                                     change     change
 MSCI Emerging            838.96      -1.19       5.64
 MSCI LatAm             2,231.27       1.15      21.94
 Brazil Bovespa        59,657.46        0.8      37.62
 Mexico IPC            45,306.48       0.73       5.42
 Chile IPSA             4,104.40      -1.11      11.53
 Chile IGPA            20,587.41      -0.99      13.42
 Argentina MerVal      15,693.73       0.21      34.42
 Colombia IGBC          9,627.74      -1.59      12.64
 Venezuela IBC         25,659.10       6.18      75.89
 (Reporting by Natalie Schachar in Mexico City and Bruno
Federowski in Sao Paulo; editing by Bill Trott, G Crosse)
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