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EMERGING MARKETS-LatAm currencies rise as Republican tax plan hits dollar
November 2, 2017 / 7:20 PM / a month ago

EMERGING MARKETS-LatAm currencies rise as Republican tax plan hits dollar

    By Anthony Esposito
    MEXICO CITY, Nov 2 (Reuters) - Latin American currencies
rose sharply against the dollar on Thursday, with the Mexican
peso hitting a two-week high, as the greenback fell
broadly on a proposal to overhaul the U.S. tax code.
    Analysts said the proposal put forth by U.S. House
Republicans was unlikely to gather sufficient support in
Congress and unlikely to have significant impact on the U.S.
economy. "Massive" tax cuts had been a major campaign promise of
U.S. President Donald Trump.
    Markets in Mexico and Brazil, Latin American's two biggest
economies, remained closed on Thursday due to local holidays.
    Mexico's peso gained 0.83 percent to 18.9250, following its
worst monthly loss in around a year in October.
    In Chile, the peso gained 0.86 percent to 629.80 on
the back of the weaker dollar and stronger prices for top export
copper.
    Meanwhile, the Colombian peso jumped 1.21 percent to
3027.8.

    Key Latin American stock indexes and currencies at 18:12
GMT:
    
    
 Stock indexes                        daily %    YTD %
                             Latest    change   change
 MSCI Emerging Markets       1128.01    -0.08    30.93
                                               
 MSCI LatAm                  2802.80     0.23    19.47
                                               
 Brazil Bovespa             73823.74    -0.65    22.58
                                               
 Mexico IPC                 48334.45     -0.6     5.90
                                               
 Chile IPSA                  5499.07    -1.59    32.46
                                               
 Chile IGPA                 27637.15     -1.4    33.29
                                               
 Argentina MerVal           27696.20    -1.01    63.71
                                               
 Colombia IGBC              10636.03    -1.18     5.02
                                               
 Venezuela IBC                713.29     2.55   -97.75
                                               
                                                      
 Currencies                           daily %    YTD %
                                       change   change
                              Latest           
 Brazil real                  3.2673    -0.12    -0.55
                                               
 Mexico peso                 18.9250     0.82     9.61
                                               
 Chile peso                    627.8     1.30     6.83
                                               
 Colombia peso                3027.8     1.21    -0.87
 Peru sol                      3.238     0.37     5.44
                                               
 Argentina peso              17.5000     0.69    -9.29
 (interbank)                                   
                                               
 Argentina peso                17.98     0.28    -6.45
 (parallel)                                    
                                               
                                                      
 
 (Reporting by Anthony Esposito; Editing by Andrew Hay)
  

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