RIO DE JANEIRO: Latin American currencies rallied early on Thursday as remarks by the ECB chief Mario Draghi fueled bets that policymakers were ready to deploy more stimulus measures that often translate into foreign currency inflows to emerging markets.
Draghi said the European Central Bank was ready to do "whatever it takes" to preserve the euro, encouraging investors who were already betting on an imminent action by the US Federal Reserve.
Latin American currencies gained for the second straight session. The Brazilian real firmed by 0.7 percent while The Chilean peso jumped 1.2 percent.
The Mexican peso strengthened 0.9 percent as central bank governor Agustin Carstens said in London the currency had room to appreciate because the current exchange rate did not reflect Mexico's fundamentals.
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