SAO PAULO, May 30 Latin American currencies
seesawed on Tuesday as falling oil prices and a strong batch of
U.S. economic figures fueled caution among traders.
Signs of a resurgence in Libya's oil output reignited
concerns over global oversupply, hammering prices of crude
futures. The slump dampened demand for commodity-linked assets,
with oil-heavy Colombia's peso down 0.3 percent.
Investors also dialed back bets on a slow pace of U.S.
interest rate hikes after U.S. consumer spending recorded in
April its biggest increase in four months.
A faster pace of policy tightening in the world's No. 1
economy could dampen demand for high-yielding emerging market
The Mexican peso was the biggest decliner in the
region, with some investors seeking protection in the U.S.
dollar ahead of Sunday's gubernatorial elections.
The Brazilian real, however, was nearly flat, with
traders reinforcing bets that the central bank would cut
interest rates by 100 basis points on Wednesday amid a mounting
political crisis that pushed away expectations of a faster
125-basis point reduction.
Key Latin American stock indexes and currencies at 1710 GMT:
Stock indexes Latest Daily YTD pct
MSCI Emerging Markets 1,011.69 -0.34 17.73
MSCI LatAm 2,563.27 -0.07 9.58
Brazil Bovespa 64,029.68 0.42 6.31
Mexico IPC 49,230.40 -0.45 7.86
Chile IPSA 4,909.05 0.38 18.25
Chile IGPA 24,604.77 0.31 18.67
Argentina MerVal 22,242.77 -0.46 31.48
Colombia IGBC 10,726.51 -0.29 5.91
Venezuela IBC 74,977.92 1.38 136.48
Currencies Latest Daily YTD pct
Brazil real 3.2665 0.07 -0.53
Mexico peso 18.6660 -1.04 11.13
Chile peso 674.4 0.01 -0.55
Colombia peso 2,919.62 -0.30 2.80
Peru sol 3.283 0.00 3.99
Argentina peso (interbank) 16.0800 -0.44 -1.27
Argentina peso (parallel) 16.36 0.31 2.81
(Reporting by Bruno Federowski; Editing by Andrea Ricci)