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.
Poor non-farm payrolls made traders believe that the Fed will maintain accommodative policy for longer time than was previously thought. Most other US reports were positive and this is good to Mexico as it ships the vast majority of its goods to the USA. Additionally, good news from China and Europe bolstered risk appetite, increasing demand for currencies of emerging markets.
USD/MXN fell from 12.7165 to 12.6047 as of 20:54 GMT today, touching the low of 12.5833 intraday.
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