EMERGING MARKETS-Latam currencies gain on Syria relief, China data

Mon Sep 2, 2013 1:06pm EDT

RIO DE JANEIRO, Sept 2 (Reuters) - Latin American currencies
strengthened on Monday as a delay in potential military action
against Syria and better-than-expected Chinese manufacturing
data supported appetite for risk globally.
    Trading was slow as Wall Street was closed for the Labor Day
holiday, leaving currencies such as the Brazilian real prone to
big swings.
    Prospects of a U.S. strike against Syria, which had weighed
on global markets in the past few days, looked less certain on
Monday as President Barack Obama struggled to win congressional
approval for military action. 
    Also supporting appetite for risk was a report showing 
China's vast manufacturing sector grew in August for the first
time in four months, easing investor concerns that the world's
No. 2 economy was on course for a sharp slowdown this year.
 
    * The Brazilian real  gained 0.7 percent to
2.3673 per U.S. dollar, after strengthening to as much as
2.3556. It was supported by the sale of 30,000 currency swaps,
derivatives designed to support the real, in two separate
central bank auctions.
    * The Mexican peso firmed 0.3 percent after five
consecutive sessions of losses took the currency to its weakest
in over two months.
    * The Chilean peso climbed 0.2 percent, supported
by a 2 percent rise in the price of copper, Chile's main
export product.

    Latin American FX prices at 1700 GMT:
    
 Currencies                       daily %    YTD %
                                   change   change
                                           
                          Latest           
 Brazil real              2.3664     0.76   -13.79
                                           
 Mexico peso             13.3200     0.30    -3.42
                                           
 Chile peso             509.1000     0.20    -5.97
                                           
 Peru sol                 2.8070    -0.18    -9.12
                                           
 Argentina peso           5.6725     0.00   -13.40

 Argentina peso           9.2300     0.76   -26.54
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.