After climbing for several weeks in a row, today the Mexican peso declined versus the greenback, on speculations that the current rates would be too high, attracting investors towards the U.S.
The Mexican peso hit the highest rate last week since November, as the United States and several European Union countries published optimist economic reports, which helped the peso the gain since the United States is the main destination for its exports, but today, speculations suggested that the peso could be overpriced, making investors to sell assets in Mexico and return to the greenback.
USD/MXN traded at 12.86 as of 17:25 GMT from an opening rate of 12.81 today in Mexico City.
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