EMERGING MARKETS-Mexico's peso extends slide, Brazil's real jumps on changing rate cut expectations [Yahoo! Finance]
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Source: Yahoo! Finance
GMT) By Bansari Mayur Kamdar April 22 (Reuters) - The Mexican peso kicked off the week lower on Monday as a strong dollar continued to roil the South American currency, but Brazil's real jumped as its central bank hinted at slowing the pace of interest rate cuts. The peso slipped 0.3% to 17.1386 against the greenback, hovering around levels last seen in February. The currency fell 2.8% last week to its lowest since October, dragged down by growing Middle East tensions and worries about the timeline for U.S. monetary policy easing. Meanwhile, data showed Mexico's economy grew 1.4% in February from January and expanded 4.4% from February of 2023. "This is a solid report; the underlying trend is stabilizing, following a poor performance in Q4 and January, and we expect further good news in the near term," said Andres Abadia, chief Latam economist at Pantheon Macroeconomics. "The recent MXN sell-off likely will force Banxico to stay on the sidelines next month." However, Brazil's real jum
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