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Mexican Peso Ends Week Down on Poor Economic Data

July 3, 2009 at 20:28 by Jan Baros

Mexican PesoThe Mexican peso, a currency which is highly dependent on United States economic conditions, had the first decline in three weeks as American unemployment figures increased concerns regarding the nation’s recession depth.

The Mexican currency posted the first negative performance in three weeks, falling 0.3 percent against the U.S. dollar, even if it can be considered as a slight decline, it shows that the U.S. negative numbers during the week damped demand for the peso, as rising concerns that the United States, the main destination for Mexican exports will still require an undetermined amount of time to recover its path of economic growth.

USD/MXN traded at 13.2275 as of 19:27 GMT climbing from Monday’s rate of 13.1706.

If you have any questions, comments, or opinions regarding the Mexican Peso, feel free to post them using the commentary form below.

Earlier News About the Mexican Peso:

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