The Mexican peso fell today as Forex market participants were speculating that the US Federal Reserve will continue to reduce its monetary stimulus, hurting riskier currencies.
Several Fed members talked this week about additional stimulus cuts, confirming that last week’s tapering was just a beginning. On one hand, such talks hurt high-beta currencies, including the peso. On the other, peso’s volatility fell after the US central bank has made its plans clear.
USD/MXN was up from 12.9947 to 13.0205 as of 17:34 GMT today.
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