Latin American currencies strengthen

Latin American currencies strengthened in recent days following comments by US Federal Reserve Chair Janet Yellen failed to mention the much anticipated interest rate increases.

Yellen was noncommittal in her speech regarding the timing of interest rate hikes, only to say that they would in fact be coming. Yellen spoke positively about the overall US economic outlook.

The Colombian peso gained more than 2 per cent, its largest since April. The Brazilian real gained 0.5 per cent, while Argentina's peso remained flat.

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Read more at Reuters.