Investors who expect the global economy to keep slowing may profit by selling the Chilean peso and buying Brazil’s real, Mike Moran, a strategist at Standard Chartered Plc in New York, said yesterday in a phone interview.
The dollar weakened against most major peers as traders bet data showing mixed employment growth may keep the Federal Reserve from accelerating interest-rate increases as the economy emerges from a first-quarter slowdown.
The dollar declined against most major counterparts amid heightened tensions in Ukraine and employment data that sent mixed signals on the strength of the U.S. expansion following a first-quarter slowdown.
Latin American currencies will probably stabilize after renewed optimism about the global economy fueled the biggest monthly rally since 2009, according to the top forecaster for the region in Bloomberg Rankings.
Peru’s sol had its biggest weekly rise since August as the Federal Reserve’s measures to boost the U.S. economy lifted commodity prices and fueled demand for higher-yielding, emerging-market currencies.