EMERGING MARKETS-Latam currencies hold steady after OPEC agreement
(Adds table, updates currency close, lead) By Bruno Federowski SAO PAULO, Sept 28 (Reuters) - Key Latin American currencies held steady on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) reached a deal in Algiers to limit oil production, triggering a sharp rise in oil prices.
The Brazilian real strengthened 0.28 percent to 3.22 reals per dollar, while the Mexican peso pared early losses to close at 19.38 per dollar, unchanged from a day prior.
"The jump in oil prices created room for the dollar to lose strength and the speech by [President of the Chicago Fed Charles] Evans saying that the low interest environment in the United States must be maintained for a while longer helped," said a Brazilian brokerage operator.
Still, uncertainty over the timing of the next U.S. interest rate increases looms.
Traders have been anxiously awaiting new hints about the Federal Reserve's intentions following contradictory comments by Fed officials and a string of mixed economic figures.
In a testimony before Congress, Fed Chair Janet Yellen said on Wednesday job creation has accelerated to unsustainable levels, though she dismissed any meaningful upward pressure on inflation.
"Yellen's remarks add noise to a very anxious market," B&T brokerage trader Marcos Trabbold said.
Mexico's benchmark IPC stock index gained 0.66 percent, its strongest close since Aug. 22, while Brazil's Bovespa added 1.67 percent.
Key Latin American stock indexes at 2106 GMT: Stock indexes daily % YTD % Latest change change MSCI Emerging 912.19 0.12 14.87 Markets MSCI LatAm 2412.41 1.21 31.84 Brazil Bovespa 59355.77 1.67 36.92 Mexico IPC 48046.56 0.66 11.79 Chile IPSA 4063.94 0.28 10.43 Chile IGPA 20260.57 0.29 11.62 Argentina MerVal 16755.17 2.48 43.51 Colombia IGBC 9939.67 1.7 16.29 Venezuela IBC 12784.70 -1.52 -12.36 (Reporting by Bruno Federowski; Editing by Diane Craft and Tom Brown)
