EMERGING MARKETS-Latam FX firm as dollar drops; U.S. tariffs pressure stocks

2 Dec by Vitaliy Dadalyan

EMERGING MARKETS-Latam FX firm as dollar drops; U.S. tariffs pressure stocks

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EMERGING MARKETS-Latam FX firm as dollar drops; U.S. tariffs pressure stocks* Trump to restore tariffs on metal imports from Brazil, Argentina * Latam FX gain as dollar drops after weak U.S. manufacturing data * Brazil stocks rise after strong manufacturing data * Chilean peso firms as central bank intervention kicks in By Susan Mathew Dec 2 (Reuters) – A dollar weakened by poor U.S. economic data helped Latin American currencies brush off the re-imposition of U.S. tariffs on steel and aluminum imports from Brazil and Argentina on Monday. Brazil’s real firmed 0.4% with a spot auction by the central bank supporting the currency, while the Argentine and Mexican pesos were flat against a dollar that slid on weak U.S. manufacturing data. Surprising officials in the two South American countries, U.S. President Donald Trump said on Monday he would restore tariffs on U.S. steel and aluminum imports, accusing them of devaluing their currencies to the detriment of U.S. farmers.