The Mexican peso rose today after touching the lowest level on the record earlier. Unsurprisingly, the reason for the drop was the risk-aversion sentiment that followed the Greek referendum over the weekend.
Many riskier currencies of emerging markets suffered from the negative market sentiment caused by the outcome of the Greek voting. The peso was one of them. The currency followed the euro, bouncing from the earlier drop, but obviously this is not a sign of the currency’s strength.
USD/MXN was down from 15.8161 to 15.7399 as of 18:32 GMT today after touching the all-time high of 15.8644.
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