By Shreyashi Sanyal
Oct 7 (Reuters) – Latin American currencies bounced on Wednesday, with Mexico’s peso leading gains as the country’s newly announced investment push was viewed as positive for its ailing economy.
The peso MXN= jumped 1.5% against the dollar, as investors were optimistic after the government presented an infrastructure investment plan worth almost $14 billion (297 billion pesos) on Monday. The package, which is mostly privately financed, is the first concrete sign of a renewed readiness by corporate bosses to invest under President Andres Manuel Lopez Obrador.
“After the government had so far seemed rather tight-fisted, referring to the difficult public finances, it is now going to support the economic recovery with the implementation of infrastructure projects,” said Elisabeth Andreae, FX and emerging markets analyst at Commerzbank.
“As far as the choice of the projects is concerned, government and the president seem intent on preventing a repetition