November 9, 2018 / 1:11 PM / 11 days ago

EMERGING MARKETS-Strong dollar pressures Latam FX, Brazil stocks lower

    Nov 9 (Reuters) - Latin American currencies weakened on
Friday, in line with emerging market peers elsewhere, as the
dollar strengthened after the U.S. Federal Reserve stayed on its
tightening course and looked set to raise interest rates in
December. 
    The Mexican peso fell 0.6 percent to a more than one
week low, while Brazil's real was steady in volatile
trade.
    The steady move higher in the official rate of return for
holding U.S. dollars has sucked money out of high-yielding bets
in the developing world this year, prompting currency sell-offs
and crises in Argentina, Turkey and India among others.
    The MSCI index of Latin American currencies
was 0.5 percent lower, pacing the broader emerging market
index's move.
    The peso hit its lowest in more than a week, extending falls
from the previous session.
    Mexico's currency as well as stocks fell on Thursday after
the latest policy proposal by the incoming government - to
regulate commissions charged by commercial banks - further
soured investor confidence in President-elect Andres Manuel
Lopez Obrador's administration.   
    Brazil's real see-sawed, while shares fell to
their lowest in a week-and-half, following a decline in global
equities and as U.S. stock futures pointed to lower open on Wall
Street. Energy and material stocks led the fall in Brazil's
benchmark stock index. 
    
    Key Latin American stock indexes and currencies at 1257 GMT
 Stock indexes                            daily %       YTD %
                                Latest     change      change
 MSCI Emerging Markets           978.53     -1.51      -14.24
                                                   
 MSCI LatAm                     2636.33     -0.25       -6.55
                                                   
 Brazil Bovespa                85521.73     -0.11       11.94
                                                   
 Mexico IPC                           -         -           -
                                                   
 Chile IPSA                     5217.24      -0.2       -0.20
                                                   
 Argentina MerVal                     -         -           -
                                                   
 Colombia IGBC                        -         -           -
                                                   
                                                             
 Currencies                               daily %       YTD %
                                           change      change
                                 Latest            
 Brazil real                     3.7565      0.08       -11.8
                                                   
 Mexico peso                    20.3293     -0.66       -3.10
                                                   
 Chile peso                       680.4     -0.46       -9.66
                                                   
 Colombia peso                        -         -           -
 Peru sol                         3.364      0.00       -3.78
                                                   
 Argentina peso (interbank)           -         -           -
                                                   
 

 (Reporting by Susan Mathew in Bengaluru
Editing by Frances Kerry)
  
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