Mexican Peso Suffers from Risk Aversion
This trading session was marked by widespread risk aversion, resulting in losses to currencies of emerging markets. The Mexican peso was among the losers.
The tension between the United States and Syria made investors unwilling to risk and encouraged them to stick to safer assets. Speculations about potential quantitative easing tampering by the Federal Reserve continued to affect the market sentiment in a negative manner, especially after today’s good macroeconomic reports from the USA. All in all, the current trading session was terrible for currencies associated with risk.
USD/MXN advanced from 13.1858 to 13.3218 as of 16:02 GMT today.
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Earlier News About the Mexican Peso:
- Signs of Growth Lift Mexican Peso (2013-08-08)
- Mexican Peso Weakens on Fed Tampering Concerns (2013-07-31)
- Mexican Peso Suffers from Poor US Data (2013-05-02)
- US Durable Goods Orders Help Mexican Peso, Currency Loses Gains Later (2013-03-26)
- S&P Changes Outlook for Mexico to Positive, Benefiting Peso (2013-03-12)