Markets News

Argentine peso opens 1.46% weaker at 45.33 per dollar -traders

BUENOS AIRES, Aug 5 (Reuters) - Argentina’s peso currency opened 1.46% weaker on Monday at 45.33 per U.S. dollar because of uncertainty over the country’s October presidential election, traders said.

Argentina will hold primary elections on Sunday with market-friendly incumbent Mauricio Macri expected to come in behind the populist-leaning opposition candidate. The market reaction, economists say, depends how big the margin.

A strong primary showing by opposition candidate Alberto Fernandez could increase worries that Macri may be unable to overtake him in time for the general election in October.

Reporting by Walter Bianchi and Hugh Bronstein; Editing by Stev e Orlofsky