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Mexican Peso Advances on Fitch Ratings Cut

Mexican PesoThe Mexican peso rose after Fitch Ratings finally ended a speculations drama and cut the country’s rating one level, making the peso to grow as currently it is one of the cheapest currencies among emergent markets.

The Mexica currency touched a one-month high and is set to grow further after Fitch Ratings finally announced a one-level rating cut, ending speculations regarding this topic which lasted for around one month. The peso now is due to climb further on U.S. recovery and speculations that it is currently undervalued.

USD/MXN traded at 12.92 as of 17:06 GMT from an opening rate of 12.98 today.

If you want to comment on the Mexican peso’s recent action or have any questions regarding this currency, please, feel free to reply below.


This entry was posted on Tuesday, November 24th, 2009 at 7:09 pm and is filed under Mexican Peso. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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