Mercados Emergentes – Aumento da lira turca real no Brasil após o aumento da taxa de juros; A queda de outro EM FX

    * Real jumps as much as 1.7%; hikes by 75 bps
    * Mexican peso slips from one-month highs; GDP shrinks in
    * Russian rouble resumes slide after Putin responds to Biden
    * Brazilian carrier Gol drops; says Q1 will be worse than

    By Susan Mathew
    March 18 (Reuters) - Brazil's real and Turkey's lira
outperformed broader emerging market peers on Thursday,
following interest rate hikes by their respective central banks,
while rising geopolitical tensions weighed on Russia's rouble.
    The lira jumped up to 2.5% against the greenback
after a hefty 200-basis-point (bps) hike, while Brazil's real
 was up 1%, trimming early gains of almost 2%,
after the central bank delivered a larger-than-expected 75-bps
raise after the market closed overnight.

    Delivering its first interest rate hike in nearly six years,
Brazil's rate-setting committee, Copom, raised the key rate to
2.75%, and flagged a similar move in May to fight inflation
despite rising economic uncertainty.
    "While we think that (the real) should gain a short-term bid
on this more hawkish stance, there remains substantial risk of
an increase in Brazilian assets' fiscal risk premium, past an
expected short-term relief rally," said Sacha Tihanyi, head of
EM strategy at TD Securities. 
    "Thus we see 75bps (hike) at the next meeting, followed by
three 50bp hikes before the BCB tapers the pace of tightening to
25bps per meeting."
    The real is among the worst performing emerging market
currencies, with worries about fiscal spending, political
interference and rising inflation pushing it around 7% lower for
the year. 
    Emerging market currencies elsewhere fell as spiking U.S.
Treasury yields lifted a dollar that had been dented by the U.S.
Federal Reserve maintaining its dovish stance.
    Russia's rouble gave up session gains to trade 0.4%
lower after Russian President Vladimir Putin responded with a
quip to U.S. counterpart Joe Biden's warning of consequences for
alleged Russian involvement in 2020 U.S. elections, saying he
wished the U.S. president good health.
    Washington is expected to impose new sanctions on Moscow as
soon as next week. The rouble had fallen 1% on Wednesday.
    Declining oil price also weighed on the crude-exporting
nation's currency. 
    Among other emerging market crude exporters, Colombia saw
its currency decline 0.2%, while Mexico's peso
retreated from one-month highs, hurt further by data showing its
economy contracted by 4.0% in February.
    Underperforming broader emerging market peers, Brazilian
stocks slid 0.7% as state-owned oil producer Petroleo
Brasileiro SA and consumer stocks like Magazine Luiza
SA and Grupo Natura weighed. 
    Brazil's largest airline Gol Linhas Aereas Inteligentes
 fell 3.7% after the company said it was revising
downward its outlook for early 2021.
    Key Latin American stock indexes and currencies at 1431 GMT:
  Stock indexes           Latest   Daily %
 MSCI Emerging Markets    1347.34     0.34
 MSCI LatAm               2345.20      1.5
 Brazil Bovespa         115759.40    -0.68
 Mexico IPC              47696.69     0.04
 Chile IPSA               4912.80     0.07
 Argentina MerVal        49784.98   -0.263
 Colombia COLCAP          1340.84     -0.2
      Currencies          Latest   Daily %
 Brazil real               5.5285     1.02
 Mexico peso              20.4614    -0.36
 Chile peso                 722.3     0.00
 Colombia peso            3575.36    -0.17
 Peru sol                  3.7037    -0.02
 Argentina peso           91.2700    -0.07
 (Reporting by Susan Mathew in Bengaluru; editing by Jonathan

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