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EMERGING MARKETS-Mexico peso rebounds from low as NAFTA talks start
October 11, 2017 / 9:37 PM / 2 months ago

EMERGING MARKETS-Mexico peso rebounds from low as NAFTA talks start

 (Recasts with peso rebound)
    MEXICO CITY, Oct 11 (Reuters) - Mexico's peso rebounded on
Wednesday from a near five-month low as talks began to rehash a
trade deal with the United States, while other emerging market
currencies also gained. 
    Doubts that President Donald Trump would push through his
planned tax reforms fueled bets that U.S. interest rates will
rise more slowly than expected, lifting Latin American
currencies across the board.
    The currencies of Brazil and Chile firmed
sharply, while the Mexican peso gained nearly 0.7
percent.
    Mexico's peso shook off five straight sessions of losses on
concerns that Mexico, the United States and Canada may fail to
reach a deal to renegotiate the North American Free Trade
Agreement.
    A fourth round of negotiating talks began in Washington on
Wednesday. 
    Trump said he would be open to bilateral trade deals with
Canada and Mexico if NAFTA talks between the three countries
fall apart.
    The peso shed more than three percent before its gains on
Wednesday. Banco Base noted in a report that the currency could
soon test 19 to the dollar if NAFTA talks continue to struggle. 
    Key Latin American stock indexes and currencies at 2315 GMT:
    
 Stock indexes                              daily %    YTD %
                                   Latest    change   change
 MSCI Emerging Markets             1117.98     0.49    29.02
                                                     
 MSCI LatAm                        2955.09    -0.35    26.69
 Brazil Bovespa                   76659.80    -0.31    27.28
 Mexico IPC                       50139.68     0.31     9.85
 Chile IPSA                        5465.65    -0.21    31.66
 Chile IGPA                       27359.63    -0.15    31.95
 Argentina MerVal                 26887.22    -0.78    58.93
 Colombia IGBC                    11050.63    -0.13     9.11
 Venezuela IBC                      532.07     0.18   -98.32
                                                            
 Currencies                                 daily %    YTD %
                                             change   change
                                    Latest           
 Brazil real                        3.1696     0.45     2.53
                                                     
 Mexico peso                       18.7100     0.67    10.87
                                                     
 Chile peso                         625.05     0.63     7.30
 Colombia peso                      2954.1     0.10     1.60
 Peru sol                            3.259     0.15     4.76
                                                     
 Argentina peso (interbank)        17.4150     0.06    -8.84
                                                     
 Argentina peso (parallel)            17.8     0.34    -5.51
                                                     
 
 (Reporting by Michael O'Boyle, Editing by Rosalba O'Brien)
  

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