This trading session was marked by widespread risk aversion, resulting in losses to currencies of emerging markets. The Mexican peso was among the losers.
The Mexican peso is the currency of Mexico, while it has also limited use in border areas of the United States. The modern version of the currency was introduced in 1993, replacing the old currency that had faced a massive devaluation. Mexico’s peso is the most-traded currency in Latin America. The Mexican economy is export oriented. Most of the country’s exports go to the United States and Canada.
Mexican Peso News Archive
Signs of Growth Lift Mexican Peso
August 8, 2013 at 20:54 Mexican Peso
The Mexican peso gained today on speculations that the US Federal Reserve will keep stimulus. At the same time, signs of economic growth in the United States improved prospects for Mexican exports.
Mexican Peso Weakens on Fed Tampering Concerns
July 31, 2013 at 18:21 Mexican Peso
The Mexican peso declined today as worries that the US Federal Reserve may trim its asset-purchase program made investors unwilling to keep riskier currencies of emerging nations.
Mexican Peso Suffers from Poor US Data
May 2, 2013 at 1:05 Mexican Peso
The Mexican peso fell as poor macroeconomic data from the United States led to concerns about Mexico’s economic growth and speculations that policy makers may cut interest rates. The currency gained versus the euro, paring the earlier losses.
US Durable Goods Orders Help Mexican Peso, Currency Loses Gains Later
March 26, 2013 at 17:01 Mexican Peso
The Mexican peso advanced today as US durable goods orders grew in February faster than was expected, improving prospects for Mexican exports. The currency lost its gains as of now as the Forex market remains in the risk-off mode still.
S&P Changes Outlook for Mexico to Positive, Benefiting Peso
March 12, 2013 at 22:24 Mexican Peso
The Mexican peso gained today after Standard&Poor’s confirmed the country’s credit rating and changed the outlook to positive on hopes for fiscal reforms that should improve the nation’s economy.
MXN Gains as Sanchez Does Not See Reasons for Interest Rate Cut
February 28, 2013 at 2:10 Mexican Peso
The Mexican peso gained today as Manuel Sanchez, a member of the central bank’s board, said that he is not supporting an interest rate cut. The market sentiment was also supportive for the currency.
Mexican Peso Drops on Fears of Lower Interest Rates
January 21, 2013 at 19:23 Mexican Peso
The Mexican peso dropped today as Forex market participants were worried that the central bank will lower interest rates in the near future, supporting the economy, but weakening the currency at the same time.
Mexican Peso Slides as Fears of Fiscal Cliff Return
December 20, 2012 at 13:20 Mexican Peso
The Mexican peso fell today on fears that US politicians will not reach an agreement for avoiding the fiscal cliff, endangering economic growth of the United States and damping prospects for Mexican exports.
Mexican Peso Drops as Threat of US Fiscal Cliff Remains
December 14, 2012 at 12:38 Mexican Peso
The Mexican peso weakened today as US politicians did not make progress in the discussion about avoiding fiscal cliff, fueling concerns that the US economy may face a recession.