Latin American currencies rise on Yellen speech

Latin American currencies rose following Federal Reserve Chair Janet Yellen's speech on Friday failed to indicate an interest rate increase in September. 

Yellen, who spoke at the Jackson Hole meeting of global central bankers, was widely expected to hint at a rise in interest rates due to the recent strengthening of the US economy.

Currencies across Latin America rose following the speech, and most emerging market stocks rose as well.

If the Federal Reserve keeps interest rates low, emerging markets are poised to benefit as they would attract more foreign investors seeking high yields.


Read more at Reuters.