Latam currencies slide

Latin American currencies weakened against the dollar on Friday, led by Mexico's peso and Brazil's real, as weak US job creation dimmed expectations for growth in the world's largest economy. Mexico's peso weakened 0.7 percent to 11.6202 to the US dollar, putting the Mexican currency on track for its biggest one-day slide since June 16 and its first weekly loss - 0.2 percent - in a month.
The peso's declines were the largest of the region's currencies. Mexico's close relationship with its larger northern neighbour - it gets 80 percent of its export earnings from the United States - makes it more dependent on US trends than other major Latin American economies.
"This was a very bad day for the world economy and for the prospects of global recovery because the data shows that the United States is suffering in its recovery and that it is very weak," said Benito Berber, currency analyst with Nomura Securities in New York.
Brazil's real also weakened, shedding 0.5 percent to 1.563 to the dollar. The declines come as Brazil's central bank steps up intervention in the markets. The real shed 0.2 percent this week. Friday's declines in the real came a day after foreign bets the real will gain further reached a record high on Wednesday on Sao Paulo's BM&F exchange.
Foreign "net real longs" rose 5.6 percent to a notional value of $24.6 billion on Thursday - the most recent day for which data is available - from $23.3 billion on Wednesday, according to the BM&F and Reuters. Chile's peso slipped 0.3 percent to 462.45 to the dollar, easing back from its strongest in three months. It closed the week 0.6 percent stronger than last Friday.
Colombia's peso was little changed, gaining 45 centavos to 1,760.45 to the dollar and extending Thursday's eight-year high. Gains for the week were 0.5 percent. The day after Peru's central bank held the country's benchmark lending rate at 4.25 percent, the country's currency, the sol, was little changed at 2.7420 for a weekly gain of 0.3 percent.