REFILE-EMERGING MARKETS-Latam FX slides as weaker commodity prices weigh ahead of Brazil rate verdict
The Brazilian currency shed 0.2% against the dollar as iron ore prices, one of the country's top exports, came under pressure. "There are reasons for Brazil's BCB to be more cautious/hawkish when it meets today: the recent weakness in the BRL, a slowdown in disinflation, fiscal expansiveness, and adverse supply-side shocks (floods)," said Thierry Wizman, global FX & rates strategist at Macquarie. Oil producer Mexico's peso lost 0.3% against the dollar as crude oil prices fell after industry data showed a rise in crude and fuel inventories in the U.S. and the greenback strengthened.