EMERGING MARKETS-LatAm currencies steady after U.S. inflation rises in Aug.
(Updates prices) By Bruno Federowski SAO PAULO, Sept 14 (Reuters) - Latin American currencies held steady on Thursday after an upswing in U.S. consumer prices confirmed trader bets on quickening inflation.
A jump in the cost of gasoline and rental accommodation drove a spike in U.S. consumer prices in August, another sign of firming inflation that could allow the Federal Reserve to increase interest rates once more this year.
But traders said the report did not offer much new information, with many already expecting a strong reading following Wednesday's U.S. producer prices data.
"All in all, there were no big surprises and the market is reacting accordingly," trader José Ranieri at BGC Liquidez said.
A string of mixed economic figures has raised doubt over the Fed's rate-hiking plans in recent months, fostering demand for high-yielding emerging market currencies.
The Brazilian real climbed 0.7 percent on Thursday, while the Mexican peso was up 0.44 percent.
Also on Thursday, Brazil's benchmark Bovespa stock index slipped 0.02 percent, dragged down by shares of miners and steelmakers in the wake of a decline in China-listed iron ore futures.
Shares of meatpacker JBS SA advanced for a second day, rising 4.6 percent, as traders hoped that Chief Executive Wesley Batista, who is at the center of a graft scandal, will be replaced.
Reuters reported that the JBS board will delay discussing a replacement for Batista while it awaits a ruling on a motion to release him from jail on charges of insider trading.
Key Latin American stock indexes and currencies at 1955 GMT: Stock indexes Latest Daily pct YTD pct change change MSCI Emerging Markets 1,100.31 0.08 27.51 MSCI LatAm 2,973.50 0.57 26.32 Brazil Bovespa 74,773.20 -0.02 24.15 Mexico IPC 50,096.85 -0.14 9.76 Chile IPSA 5,160.46 -0.05 24.31 Chile IGPA 25,784.98 -0.07 24.36 Argentina MerVal 23,715.89 -0.51 40.18 Colombia IGBC 11,155.30 -0.2 10.14 Venezuela IBC 386,035.38 9.73 1117.58 Currencies Latest Daily pct YTD pct change change Brazil real 3.1155 0.70 4.29 Mexico peso 17.6700 0.44 17.40 Chile peso 623.1 0.43 7.64 Colombia peso 2,896.1 0.52 3.64 Peru sol 3.238 0.00 5.44 Argentina peso 16.9800 0.53 -6.51 (interbank) Argentina peso 17.81 0.22 -5.56 (parallel) (Reporting by Bruno Federowski; Editing by Leslie Adler)
