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Mexican peso resumes rally as some political fears abate

2018-07-13 03:11    Investing

Mexican peso resumes rally as some political fears abate Stock News

© Reuters. Mexican peso resumes rally as some political fears abate
  • The Mexican peso resumes its rally, up 0.89% against the U.S. dollar to 18.91 per dollar. Even at 18.77 per dollar earlier today, it reached a 10-week high and made it the top performing emerging markets currency for the day.
  • The peso took a hit in the runup and to Mexico's presidential election on fears that Andres Manuel Lopez Obrador would pursue severe anti-markets policies.
  • The peso fell from about 18 pesos per dollar in mid-April to about 20.84 in mid-June.
  • Since then, Lopez Obrador's election has promised to respect central bank autonomy and exercise fiscal prudence, the Financial Times reports.
  • Investors looking for bargains may also be buying after several analysts says the currency has been oversold.
  • ETFs: EWW, MXF, MXE, DBMX, HEWW, MEXX, FLMX
  • Now read: The Just Sign The Check Edition


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