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EMERGING MARKETS-Latam currencies tread water on U.S. debt concern
October 7, 2013 / 7:18 PM / 4 years ago

EMERGING MARKETS-Latam currencies tread water on U.S. debt concern

SAO PAULO, Oct 7 (Reuters) - Latin American currencies were
little changed on Monday as investors avoided making strong bets
in a market worried about a bitter U.S. budget dispute that
could force the United States to default on its debt this month.
    While most investors believe the U.S. government will not
stop honoring its obligations, some became more careful as a
prolonged dispute between Republicans and Democrats kept part of
the U.S. government shut down for a seventh day.
    The Brazilian real  gained 0.2 percent but the
Mexican peso edged down 0.1 percent. Other currencies in
the region barely budged.
    "Those are normal variations as investors are cautiously
waiting to see what is going to happen in the United States,"
said Reginaldo Siaca, a manager at Advanced brokerage in Sao
    Investors' anxiety about the future of the U.S. budget
negotiations increased over the weekend as, in comments on
Sunday television political talk shows, neither Republicans nor
Democrats offered any sign of impending agreement on either the
U.S. government shutdown nor the debt ceiling. 
    Latin America FX prices at 1905 GMT:
 Currencies                       daily %    YTD %
                                   change   change
 Brazil real              2.2045     0.25    -7.46
 Mexico peso             13.0965    -0.09    -1.77
 Chile peso             498.7000     0.08    -4.01
 Colombia peso          1887.000     0.00    -6.41
 Peru sol                 2.7770     0.00    -8.14
 Argentina peso           5.8200    -0.13   -15.59

 Argentina peso           9.5300     0.21   -28.86

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