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EMERGING MARKETS-LatAm currencies gain as U.S. wages rise less than expected
February 3, 2017 / 3:56 PM / 7 months ago

EMERGING MARKETS-LatAm currencies gain as U.S. wages rise less than expected

SAO PAULO, Feb 3 (Reuters) - Latin American currencies
strengthened on Friday after U.S. wages remained nearly flat in
January, reducing expectations of a fast interest rate-hike
cycle in the coming months.
    Wages rose just three cents last month despite the largest
gain in U.S. nonfarm payrolls in four months, a report showed.
    Investors bet the figures would keep the U.S. Federal
Reserve on a trajectory of gradual interest rate increases,
sustaining the allure of high-yielding emerging market assets.
    The Mexican and Chilean pesos firmed
around 1 percent, while the Brazilian real rose 0.4
percent.
    Other emerging markets had been pressured earlier in the day
by an unexpected Chinese interest rate raise, but pared back
losses after the U.S. report.
    Brazil's benchmark Bovespa stock index rose 1
percent, supported by appetite for risky assets. The stock of
TIM Participações SA was the biggest gainer after the
company reported strong fourth-quarter margins. 
    
    Key Latin American stock indexes and currencies at 1550 GMT:
 Stock indexes                                daily %   YTD %
                                               change  change
                                   Latest              
 MSCI Emerging Markets                921.81     0.72    6.14
 MSCI LatAm                          2570.89      1.4    8.32
 Brazil Bovespa                     65286.55      1.1    8.40
 Mexico IPC                         47049.66     -0.1    3.08
 Chile IPSA                          4228.35     0.05    1.85
 Chile IGPA                         21115.44     0.05    1.84
 Argentina MerVal                   19470.07     0.49   15.09
 Colombia IGBC                      10190.89    -0.03    0.62
 Venezuela IBC                      27893.74    -1.07  -12.02
                                                             
 Currencies                                   daily %   YTD %
                                               change  change
                                      Latest           
 Brazil real                          3.1087     0.38    4.52
 Mexico peso                         20.3390     1.01    1.99
 Chile peso                            636.1     1.15    5.44
 Colombia peso                        2848.3     0.87    5.38
 Peru sol                              3.236     0.37    5.50
 Argentina peso (interbank)          15.6300     0.38    1.57
                                                       
 Argentina peso (parallel)             16.39     0.73    2.62
                                                       
 

 (Reporting by Bruno Federowski; Editing by Bernadette Baum)

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