June 26, 2018 / 4:54 PM / 5 months ago

EMERGING MARKETS-Mexico peso firm after cenbank official's election remarks

    By Bruno Federowski
    BRASILIA, June 26 (Reuters) - The Mexican peso edged up on
Tuesday after a central bank official told Reuters that the
possibility of victory by leftist Andres Manuel Lopez Obrador at
Sunday's presidential vote should not unduly rattle markets.
    The peso firmed 0.2 percent on a day when most
Latin American currencies were nearly flat, held back by
lingering concerns over trade frictions between the United
States and major world economies.
    Jaime Cortina, Banco de Mexico's director of operations and
payment systems, told Reuters in an interview on Monday that
market participants have already priced in Obrador's victory
after most major polls put it as the most likely scenario.

    The 64-year-old Lopez Obrador holds a commanding lead over
his rivals, having capitalized on growing frustration with the
ruling party over record levels of violence, a series of
political corruption scandals and sluggish economic growth. 
    The peso sank to a 1-1/2-year low this month, tracking a
global selloff in emerging market assets as well as a deadlock
in talks between the United States, Mexico and Canada to rework
the North American Free Trade Agreement, known as NAFTA. 
    A mounting trade fight between the United States and other
economies has sent investors scurrying for safe-haven assets.
Two benchmark Wall Street indexes on Monday to suffer their
worst losses in over two months and launched China into bear
market territory.
    
  Key Latin American stock indexes and currencies at 1600 GMT:
 Stock indexes                      Latest     Daily    YTD
                                                pct     pct
                                              change   change
 MSCI Emerging Markets              1,065.73     -0.5   -7.54
 MSCI LatAm                         2,434.06     -0.1  -13.85
 Brazil Bovespa                    70,385.09     -0.8   -7.88
 Mexico IPC                        46,686.08    -0.13   -5.41
 Chile IPSA                         5,287.06     0.03   -4.99
 Chile IGPA                        26,840.73        0   -4.07
 Argentina MerVal                  28,725.30    -0.35   -4.46
 Colombia IGBC                     11,973.77     0.06    5.30
                                                             
 Currencies                         Latest     Daily    YTD
                                                pct     pct
                                              change   change
 Brazil real                          3.7741     0.07  -12.21
 Mexico peso                         19.8400     0.23   -0.71
 Chile peso                            640.3    -0.06   -4.01
 Colombia peso                      2,923.35    -0.26    2.01
 Peru sol                               3.27    -0.03   -1.01
 Argentina peso (interbank)          27.1150    -0.06  -31.40
                                                       
 Argentina peso (parallel)             27.77     0.65  -30.75
                                                       
 
 (Reporting by Bruno Federowski, editing by G Crosse)
  
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