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EMERGING MARKETS-Latam currencies little changed before Fed remarks

RIO DE JANEIRO, Oct 29 (Reuters) - Latin American currencies

weakened slightly on Tuesday as investors awaited the U.S.

Federal Reserve to shed light on the future of its stimulus

program, which will be key factor in the appeal of risk for

investors over the next few months.

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 on Wednesday for clues on when it might begin to reduce

bond purchases.

Expectations the U.S. central bank will not start tapering

its bond-buying program until March 2014 boosted the appetite of

investors for emerging markets assets last week.

* The Brazilian real weakened 0.12 percent to

close at 2.1812 per dollar. The currency has been 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


* The Mexican peso 12.9290 per dollar, easing 0.35

percent after the central bank cut interest rates on Friday for

the third time this year to counter a slump in growth.

* The Chilean peso lost 0.33 percent as investors

continued to cut long positions after the currency weakened past

its 100-day simple moving average in the previous session.

Latin America FX prices at 2253 GMT:

Currencies daily % YTD %

change change


Brazil real 2.1812 -0.12 -6.47

Mexico peso 12.9290 -0.35 -0.50

Chile peso 508.7000 -0.33 -5.90

Colombia peso 1883.4900 0.03 -6.24

Peru sol 2.7640 -0.29 -7.71

Argentina peso (interbank) 5.8925 0.00 -16.63

Argentina peso (parallel) 9.8700 -1.22 -31.31