Mexican Peso Falls on Adverse Trading Scenario

The trading scenario this Thursday was entirely against the Mexican currency, which faced worse-than-expected data coming from the U.S., its main trading partner, and a strong sentiment of pessimism as European public accounts are deteriorating.

After a U.S. employment showed an increase in new jobless claims beyond forecasts, the Mexican peso fell for another day, as the crude oil, one of its main exports, fell after market sentiment deteriorated globally, and specially in Eurozone as some of its members are having a hard time to adjust their budget deficits, affecting indirectly appeal for emerging market currencies.

USD/MXN closed at 13.072 from an opening rate of 12.948 this Thursday.

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