August 28, 2018 / 8:15 PM / a month ago

EMERGING MARKETS-Latam currencies slide on Brazil contagion, book NAFTA gains

 (Recasts with Mexican peso losses, updates prices)
    By Bruno Federowski and Noe Torres
    BRASILIA/MEXICO CITY, Aug 28 (Reuters) - Currencies across
Latin America weakened on Tuesday as investor concerns over
Brazil's elections affected the region, and the market booked
profits after Mexico and the United States announced a bilateral
trade deal. 
    Several polls in Brazil have showed jailed former President
Luiz Inacio Lula da Silva, who has railed against austerity,
leading the ballot, with market favorite Geraldo Alckmin failing
to pick up steam.
    The Brazilian real weakened 1.49 percent. The Mexican
peso, which strengthened on Monday after Mexico and the
United States announced a deal on bilateral issues related to
the North American Free Trade Agreement (NAFTA), weakened 1.38
percent.
    Canada's top trade negotiator joined her Mexican and U.S.
counterparts in Washington on Tuesday in a bid to remain part of
a trilateral North American trade pact, as U.S. officials
expressed optimism a deal could be reached this week.

    Thorny negotiations around NAFTA, which have dragged on for
much longer than originally envisioned, have weighed on demand
for emerging-market assets throughout the year.

    
Key Latin American stock indexes and currencies at 240 GMT:
    
 Stock indexes                                  daily   YTD %
                                                    %  change
                                     Latest    change  
 MSCI Emerging Markets                1069.84    0.07   -7.71
 MSCI LatAm                           2488.82   -2.46   -9.78
 Brazil Bovespa                      77321.99   -0.78    1.20
 Mexico IPC                          50009.21   -0.81    1.33
 Argentina MerVal                    24898.22   -2.11  -17.19
 Colombia IGBC                       12180.67   -0.01    7.12
 Venezuela IBC                       354544.9   -6.28  27968.
                                            7              54
                                                             
 Currencies                                     daily   YTD %
                                                    %  change
                                               change  
                                       Latest          
 Brazil real                           4.1413   -1.49  -19.99
 Mexico peso                          19.0385   -1.38    3.47
 Chile peso                             662.3   -0.56   -7.19
 Colombia peso                         2988.8   -1.65   -0.23
 Peru sol                               3.293   -0.15   -1.70
 Argentina peso (interbank)           31.4400   -1.49  -40.84
                                                       
 Argentina peso (parallel)               33.2   -2.26  -42.08
                                                       
   

 (Reporting by Bruno Federowski; 
Editing by Dan Grebler and Alistair Bell)
  
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