November 29, 2017 / 4:22 AM / a year ago

EMERGING MARKETS-Chile peso hits 3-mth low; Mexico, Brazil currencies rise

 (Updates with final prices, details from Mexico, Brazil)
    By Bruno Federowski
    SAO PAULO, Nov 28 (Reuters) - The Chilean peso fell to a
three-month low on Tuesday, tracking a decline in prices of
copper, the country's main export, though other currencies in
the region appreciated after testimony from the nominee to run
the U.S. Federal Reserve.
    The Chilean currency declined for a second day,
driving it to the weakest levels since August.
    In the United States, congressional testimony by President
Donald Trump's nominee for chair of the Federal Reserve, Jerome
Powell, suggested that interest rates would continue to rise
gradually, sticking to the current Fed consensus.
    The U.S. central bank should "respond decisively" to any new
economic crisis, Powell said in a Senate committee hearing on
his nomination, positioning himself as an heir to the policies
of current Fed Chair Janet Yellen.
    Mexico's peso closed the day up by 0.25 percent at 18.54 per
dollar, while the country's main stock index fell again,
closing at its lowest level in more than eight months.
    Shortly after the market closed, Mexico's government
announced that Alejandro Diaz de Leon would replace Agustin
Carstens at the head of the central bank. A member of the bank's
board, Diaz de Leon was one of the favorites for the post.
    Diaz de Leon said on Tuesday inflation may not fall as
forecast due to recent and future shocks, laying out a cautious
stance that may bode for steady or even higher interest rates
    Brazil's real gained 0.36 percent against the dollar,
while the Bovespa stock index advanced 0.11 percent.
    Key Latin American stock indexes and currencies at 2220 GMT:
 Stock indexes                              daily %     YTD %
                                             change    change
 MSCI Emerging Markets             1144.02    -0.22     32.96
 MSCI LatAm                        2806.84    -0.02     19.92
 Brazil Bovespa                   74139.72     0.11     23.10
 Mexico S&P/BVM IPC               47229.16     -0.1      3.48
 Chile IPSA                        5061.20     0.57     21.92
 Chile IGPA                       25447.12     0.43     22.73
 Argentina MerVal                 26912.15     0.78     59.08
 Colombia IGBC                    10783.93    -0.36      6.70
 Venezuela IBC                      851.54     6.59    -97.31
 Currencies                                 daily %     YTD %
                                             change    change
 Brazil real                        3.2087     0.36      1.26
 Mexico peso                        18.543     0.25     11.87
 Chile peso                          641.3     -0.5      4.58
 Colombia peso                     2996.20     0.29      0.18
 Peru sol                            3.233     0.09      5.60
 Argentina peso (interbank)          17.36    -0.37     -8.55
 Argentina peso (parallel)           18.09    -0.17     -7.02
 (Reporting by Bruno Federowski; Editing by Amrutha Gayathri)
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