Extending morning deal's downtrend, the Mexican peso weakened against its US counterpart during New York afternoon trading on Monday. At present, the peso is trading near a 26-day low of 13.9755 versus the greenback, compared to Friday's North American session close of 13.3398. The next downside target level for the Mexican currency is seen at 14.20. The peso plummeted on concern that the outbreak of the swine flu will deepen the country's economic slump.
The flu outbreak may slow dollar flows from tourism and curb consumer spending at restaurants, theaters and other venues where crowds gather. Suspected deaths in Mexico have risen to 103 from the 81 announced earlier, Health Minister Jose Cordova said yesterday.
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