Latin American currency eases gains

Emerging market countries in Latin America eased currency gains as the US Federal Reserve indicated it would raise interest rates as soon as September.

The Mexican peso reached a three-month high of 17.9010 per dollar.

Higher US interest rates may draw investment away from emerging market assets as the labor market tightens.

Latin American currencies had previously strengthened on weaker US inflation figures coupled with high commodity prices.

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Read more at Reuters.