By Shreyashi Sanyal
Oct 9 (Reuters) – Most major currencies in Latin American were set to end the week higher on Friday, with Brazil’s real leading gains after economic data through the week showed signs of improvement, while a weaker dollar also offered support.
The real BRBY, BRL= strengthened 1.3%, heading for its first weekly gain in five as data showed a pick-up in Brazil’s services sector last month. Another report showed a record reading on retail sales for August.
Investors, however, worried about Brazil’s public finances after the introduction of a new fiscal bill, called Renda Cidada, fanned fears about the government overshooting its spending limit.
FX analysts at Commerzbank said that given the uncertainty about the pandemic’sprogression and its economic impact, it is unlikely that disagreements about the consolidation of national finances will be resolved soon.
Mexico’s peso MXN= was on track