RIO DE JANEIRO, Oct 30 (Reuters) - Latin American currencies
rose on Wednesday as investors bet the U.S. Federal Reserve will
signal its stimulus measures will remain in place into 2014,
supporting appetite for risk in emerging markets.
The Fed is widely expected to keep buying $85 billion worth
of bonds per month for the time being, but investors are eagerly
awaiting the statement at the end of its two-day monetary policy
meeting at 2 p.m. (1800 GMT) for clues on when it might begin to
reduce bond purchases.
Recent economic data underscoring the fragility of the U.S.
economic recovery, such as a Wednesday report showing that the
private sector hired in October the fewest number of workers in
six months, have fueled bets that the Fed will not start
tapering its bond-buying program until March 2014.
* The Brazilian real gained 0.3 percent, also
supported by a central bank plan to roll over most of the
currency swaps that expire on Nov. 1. Those swaps are
derivatives that offer investors protection against a possible
weakening of the currency.
* The Mexican peso rose 0.4 percent, as investors
watched the progress of a tax reform aimed at raising government
* The Chilean peso climbed 0.3 percent after prices
of copper, the country's main export product, jumped
more than 1 percent to their highest level in a week.
Latin America FX prices at 1315 GMT:
Currencies daily % YTD %
Brazil real 2.1880 0.31 -6.76
Mexico peso 12.8810 0.37 -0.13
Chile peso 507.4000 0.26 -5.66
Colombia peso 1881.1500 0.12 -6.12
Peru sol 2.7640 -0.29 -7.71
Argentina peso 5.8950 0.00 -16.67
Argentina peso 9.8700 -1.22 -31.31