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Mercados emergentes: Latam FX no logró abordar los problemas de virus; El peso chileno rastrea el alza de los precios del cobre

    * Brazilian consumer inflation jumps first time in four
years
    * Mexican peso drops most in one month

    By Shashank Nayar
    April 27 (Reuters) - Most Latin American currencies fell on
Tuesday on worries of rising coronavirus infections and ahead of
a U.S. Federal Reserve meeting, while the Chilean peso jumped as
copper prices rose near to levels seen a decade ago.
    The currency of the world's top copper producer, Chile
, gained 0.7% to 700 and was trading nearly 1% away from
its highest point this year.
    Copper prices climbed on Tuesday towards the record above
$10,000 a tonne seen a decade ago, as worries about supply
disruptions in Chile due to strikes and robust demand reinforced
expectations of shortages this year.         
    Investors held off large bets ahead of a Federal Reserve
policy decision on Wednesday, where the bank is widely expected
to maintain its dovish stance and downplay talks of tightening
policy.
    The real reversed early gains to trade nearly flat as
risks arising from rising coronavirus infections and vaccination
worries outweighed a rising inflation outlook and sufficient
banking system liquidity.
    Brazilian consumer inflation rose above 6% in the month to
mid-April for the first time in more than four years, statistics
agency IBGE said, once again driven by rising transportation
costs. 
    The Brazilian health regulator Anvisa rejected importing the
Russian-made Sputnik V COVID-19 vaccine requested by state
governors battling a deadly second wave of the virus that is
battering Latin America's largest nation.
    "Weakness in the BRL is led by fear that if the current
spike in virus infections would be sustained for longer, in
addition the vaccination drive is not helping much as Brazil has
been struggling to procure vaccines for a faster vaccination
program which is the need,” said Mauricio Une, senior economist
at Rabobank.
    A rising second wave of coronavirus infections and an acute
shortfall of vaccinations has kept sentiment subdued towards
Latin American currencies and stocks, amid rising death tolls
and increased hospitalizations.
    Mexico's peso dropped 0.8% and was set for its
biggest single-day drop in a month. The currency extended losses
 from the previous session after data showed the country's
economy shrank more than expected in February, mainly driven by
weakness in the manufacturing and service sectors.
    Most other Latin American currencies including the Argentine
and Colombian peso dropped 0.1% and 0.3%, while
the Peruvian sol traded flat.
    MSCI's index of Latin American stocks gained
0.1%, while currencies dropped 0.1%.
    
    Key Latin American stock indexes and currencies:
    
                              Latest     Daily % change
 MSCI Emerging Markets         1362.00               0.1
                                        
 MSCI LatAm                    2432.69              0.12
                                        
 Brazil Bovespa              120411.83             -0.15
                                        
 Mexico IPC                   49286.22              0.74
                                        
 Chile IPSA                    4849.50             -0.32
                                        
 Argentina MerVal             48520.98              1.23
                                        
 Colombia COLCAP               1291.63              0.39 Currencies             Latest     Daily % change
 Brazil real                    5.4432              0.08
                                        
 Mexico peso                   19.9610             -0.56
                                        
 Chile peso                        700              0.67
                                        
 Colombia peso                 3705.68             -0.34
 Peru sol                       3.8377              0.00
                                        
 Argentina peso                93.3300             -0.05
 (interbank)                            
                                        
 

 (Reporting by Shashank Nayar in Bengaluru
Editing by Alistair Bell)
  
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