Latin American markets struggled on Thursday amid renewed fears over global growth. Stocks finished the session slightly higher, though Brazil’s commodity producers fell on signs China’s economy is cooling off. Mexico’s peso slipped against the dollar, while Brazil’s real was flat and the Chilean and Colombian pesos strengthened.

“If US growth concerns remain in play, we believe the peso will continue to be hurt disproportionately within [emerging markets]”, wrote Win Thin, senior currency strategist at Brown Brothers Harriman. “While [emerging market] currencies have been doing well so far in Q3, rising concerns about US and China growth could lead to a bout of profit-taking.” Continue reading »