PRESS DIGEST - Wall Street Journal - March 30
March 30 The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
RIO DE JANEIRO, Oct 28 The Brazilian real edged higher on Monday, bucking a weakening trend in Latin America, supported by a central bank plan to roll over currency swaps, derivative contracts that provide investors with protection against a possible currency depreciation. Other Latin American currencies declined, however, as investors pocketed part of a recent rally that had been fueled by bets that the U.S. Federal Reserve will signal this week that its stimulus plan will remain in place for longer. The Fed is widely seen keeping the pace of its bond-buying program unchanged at $85 billion per month at the end of its two-day meeting on Wednesday. Expectations that it will not begin withdrawing that stimulus until March 2014 have boosted investors' appetite emerging markets assets. * The Brazilian real gained 0.2 percent as the country's central bank sold all the 20,000 currency swaps it had offered to roll-over similar contracts expiring on Nov. 1. * Brazil's central bank will hold two more auctions this week to roll over the $8.9 billion of currency swaps that expire early next month. So far, policymakers have renewed nearly $4 billion of those contracts. * The Mexican peso dropped 0.2 percent, easing slightly after a rally that also was boosted by a central bank statement on Friday signaling no more interest rate cuts are in the pipeline. * The Chilean peso ended 0.3 percent weaker at a seven-week low of 507.00 per dollar, crossing its 100-day simple moving average of 505.05 per dollar. Latin America FX prices at 1803 GMT: Currencies daily % YTD % change change Latest Brazil real 2.1832 0.22 -6.56 Mexico peso 12.9015 -0.17 -0.29 Chile peso 507.0000 -0.30 -5.58 Colombia peso 1884.0500 -0.08 -6.27 Peru sol 2.7540 0.18 -7.37 Argentina peso 5.8900 -0.08 -16.60 Argentina peso 9.8900 2.12 -31.45
SHANGHAI, March 30 China's State Power Investment Corp said Westinghouse Electric Co's bankruptcy filing would not have a "substantial impact" on the country's nuclear plans.