July 17, 2018 / 4:09 PM / 5 months ago

EMERGING MARKETS-Most LatAm currencies dip after Fed chief remarks

    By Bruno Federowski
    BRASILIA, July 17 (Reuters) - Most Latin American currencies
weakened on Tuesday after the U.S. Federal Reserve chief sounded
an upbeat tone on the U.S. economy, driving investors to unwind
bets on a slower pace of U.S. interest rate hikes.
    In testimony before the Senate Banking Committee, Powell
downplayed the impact of current global trade policy discussions
on the outlook for further monetary tightening.
    Some investors perused Powell's comments for hints that the
Fed could slow the pace of rate hikes, potentially bolstering
allure of high-risk, emerging-market assets.
    "There was not much news in Powell's remarks and some had
expected a dovish tone," a portfolio manager based in São Paulo
said.
    Currencies from Mexico, Colombia and Chile
 slipped between 0.1 and 0.7 percent.
    Stock markets were mixed, with Brazil's benchmark Bovespa
stock index up 1.2 percent as the largest gainer in the
region.
    Blue-chip shares, such as miner Vale SA and
lenders Itaú Unibanco Holding SA and Banco Bradesco
SA, added the most points to the benchmark index, as
investors made final adjustments to their portfolios ahead of
the start of the corporate earnings season.
    
    Key Latin American stock indexes and currencies at 1520 GMT:
 Stock indexes                               daily %    YTD %
                                              change   change
                                  Latest              
 MSCI Emerging Markets             1069.05     -0.11    -7.61
 MSCI LatAm                        2598.56       0.8    -8.85
 Brazil Bovespa                   77576.57      1.21     1.54
 Mexico IPC                       48489.47      0.07    -1.75
 Chile IPSA                        5335.31      0.56    -4.12
 Chile IGPA                       26960.07      0.41    -3.65
 Argentina MerVal                 26225.60     -0.14   -12.77
 Colombia IGBC                    12257.52      -0.1     7.80
                                                             
 Currencies                                  daily %    YTD %
                                              change   change
                                                      
                                    Latest            
 Brazil real                        3.8589      0.11   -14.14
 Mexico peso                       18.8480     -0.12     4.52
                                                      
 Chile peso                          654.2     -0.70    -6.05
 Colombia peso                      2878.7     -0.15     3.59
 Peru sol                            3.268     -0.09    -0.95
 Argentina peso (interbank)        27.4600     -0.36   -32.27
                                                      
 Argentina peso (parallel)            28.9     -0.17   -33.46
                                                      
 
 (Reporting by Bruno Federowski; Editing by Bernadette Baum)
  
Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below