Latam currencies up against weak dollar

Updated 21 Oct, 2019

Brazil's real gained 0.4% and Mexico's peso rose 0.1% to resume its gaining streak for a seventh session in eight. Chile's peso hit its highest in a month.

The dollar slipped again as the euro extended last session's rally and hit a seven-week high after Britain and the European Union clinched a deal on Thursday for an orderly British exit from the bloc.

Regional stocks tracked Wall Street's lackluster moves and traded flat. Sentiment had taken a hit after data showed the Chinese economy expanded at its weakest pace in almost 30 years, reinforcing global growth slowdown fears and reiterating the need for a US-China trade deal.

MSCI's Latam shares index fell, looking set to break a seven-session winning streak. On the week, the index was poised for a third week of gains.

Shares of Petroleo Brasileiro were the biggest boosts on Brazil's main index after the state oil firm posted a significant production boost in the third quarter.

In Mexico, conglomerate Alfa was among the worst performers on the IPC index after it reported double-digit drops in revenue and net profit for the third quarter.

Copyright Reuters, 2019

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