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EMERGING MARKETS-Mexico peso firms to strongest level in four months
March 3, 2017 / 10:23 PM / 7 months ago

EMERGING MARKETS-Mexico peso firms to strongest level in four months

 (Updates prices)
    SAO PAULO, March 3 (Reuters) - 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
(NAFTA).
    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
boost it.
    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 %
                                        change   change
 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 %
                                        change   change
 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
Leslie Adler)
  

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