SAO PAULO, March 3 The Mexican peso on Friday
firmed to the strongest level since the November U.S. elections
after the U.S. commerce secretary said a sensible trade deal
with Mexico could help the battered currency.
The peso strengthened more than 2.5 percent
to 19.50 per dollar.
The peso closed 2016 with its worst yearly performance since
2008 after U.S. President Donald Trump threatened to pull the
United States out of the North American Free Trade Agreement
Speaking on CNBC, U.S. Secretary of Commerce Wilbur Ross
said those NAFTA fears pummeled the peso, which reached an
all-time low on Jan. 11, and that a sensible trade deal would
Trump has also said he would slap a hefty tax on imports to
the United States from Mexico to pay for a border wall.
Other Latin American currencies closed up after seesawing
earlier as traders avoided making big bets ahead of a speech by
U.S. Federal Reserve Chair Janet Yellen.
Expectations of a U.S. rate increase in March, which could
reduce the allure of high-yielding assets, have weighed on
demand for emerging market currencies this week.
Key Latin American stock indexes and currencies at 2200 GMT:
Stock indexes Latest daily % YTD %
MSCI Emerging Markets 931.07 -0.57 7.98
MSCI LatAm 2606.86 0.94 11.37
Brazil Bovespa 66785.53 1.41 10.89
Mexico IPC 47414.57 0.27 3.88
Chile IPSA 4429.79 0.22 6.71
Chile IGPA 22195.82 0.36 7.05
Argentina MerVal 19265.45 1.57 13.88
Colombia IGBC 9907.48 0.37 -2.18
Venezuela IBC 37598.43 2.14 18.59
Currencies Latest daily % YTD %
Brazil real 3.1130 1.20 4.33
Mexico peso 19.5000 2.53 6.38
Chile peso 657.8 -0.50 1.96
Colombia peso 2969.83 0.06 1.07
Peru sol 3.279 0.09 4.12
(Reporting by Bruno Federowski; Editing by Andrea Ricci and