Mexico's peso scaled nearly a three-month high against a stronger dollar on Thursday, while Brazil's real touched its highest in more than two months, taking an index of Latin American currencies up 1%.

Most other currencies in the region also gained, with Colombia's peso hitting a five-week high, while Chile's currency jumped as much as 0.9%. MSCI's index of Latam currencies jumped to an 11-week high.

The dollar, which had lost momentum after weak durable goods data out of the United States, strengthened after the euro and pound slipped.

A third day of gains for Brazil's real came after the Senate gave its final seal of approval for a landmark pension reform on Wednesday. The bill now awaits presidential ratification, which is expected by November 19.

That follows months of political wrangling that whipsawed the currency. The reform aims to generate targeted savings of 800 trillion reais over the next decade and help stabilize the country's public finances and boost growth.

Copyright Reuters, 2019

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