Latin America currencies rise moderately but remain cautious ahead of comments from Fed and Europe

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 Latin American currencies were trading modestly higher in early trading on Wednesday, after a couple of weeks of losses, but investors remained cautious ahead of policymakers’ comments. monetary policy in the United States and in Europe this week.

* Dealers also digested economic data from China, where export growth slowed in August, reviving downside risks for that economy amid recession fears in the United States and Europe.

* For the moment, the currencies of the region moved away from the behavior of the euro and the pound sterling that weakened against the US dollar.

* The Chilean peso gained 0.69% to 882.90/883.20 units per dollar, a day after the Central Bank applied a sharp hike in the economy’s key rate. Meanwhile, the main index of the Santiago stock market, the IPSA, fell 1.05% to 5,548.93 points.

* Chile’s central bank agreed on Tuesday to raise the benchmark interest rate by one percentage point to 10.75%, above market expectations, as part of its strategy to counteract inflationary pressure.

* The Colombian peso strengthened 0.64% to 4,452.40 units per dollar, while in the stock market, the benchmark MSCI COLCAP index fell 0.26% to 1,223.93 points.

* The Mexican peso appreciated 0.45% to 20.0269 units per dollar; while the main stock index S&P/BMV IPC , which includes the 35 most liquid companies in the local market, lost 0.62% to 45,620.50 points.

* In Brazil, the real rose 0.09% to 5.2480 per dollar, although the Bovespa stock index fell 2.17% to 109,763.77 points.

* The Peruvian currency, the sol, gained 0.17% to 3.891/3.893 units per dollar. Meanwhile, the benchmark of the Lima Stock Exchange gained 0.22%, to 492.67 points.

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* In Argentina, the peso lost 0.21%; while the leading Argentine index S&P Merval added 1.08% to 138,798.37 due to a persistent disarmament of positions due to taking profits and the weakness of external markets.

Quotes at 1516 GMT

Indices Price Var pct Var pct

daily shares in the year

MSCI Emerging Markets

965.24 -21.75

-0.26

MSCI Latin America

2,132.18 1.81

-2.63

Bovespa Brazil

109,763.77 4.7140

-2.17

CPI Mexico

45,653.04 -14.30

-0.54

Argentina MerVal

139,768.95 67.39

1,791

COLCAP Colombia

1,221.48 -13.37

-0.46

IPSA Chile

5,540.26 28.60

-1.2

Selective Peru

493.29 -3.72

0.34

Dollar against Price Var pct Var pct

to coins monthly in the year

Brazilian real

5.2480 0

0.00

Mexican peso

20.0110 0.00

0.00

Chilean peso

882.4 0.00

0.00

Colombian peso

4,438.5 +0.00

0.00

peruvian sol

3.8922 +0.00

0.00

Argentine peso

140.79 +0.00

+0.00

+0.00

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