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Latam currencies extend gains on Fed caution
Shoaib Ur Rehman
30 Mar, 2016
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Copyright Reuters, 2016
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![](https://i.brecorder.com/images/2016/03/latin-american-currencies.jpg">SAO PAULO: Most Latin American currencies strengthened for a second day on Wednesday as traders bet the Federal Reserve could take longer than expected to increase US interest rates.</P><P>Fed Chair Janet Yellen said on Tuesday the US central bank should proceed cautiously in tightening policy.</P><P>Many investors had feared she could take a more hawkish tone after a series of Fed policymakers endorsed a trajectory of at least two rate increases this year.</P><P>Fed funds futures implied traders now expected the Fed to stand pat until the final quarter of 2016.</P><P>Brazilian politics remained under the spotlight after the country's biggest political party split with the governing coalition, sharply raising the chances of President Dilma Rousseff's ouster.</P><P>)