Mexico’s peso strengthened on Wednesday to its strongest level since August 19 after the U.S. Labor Department reported weaker than expected inflation in the United States.
Low inflation could complicate the Federal Reserve’s decision about whether to raise interest rates.
The peso closed at 16.5420 pesos per dollar in the international foreign exchange market, gaining 0.82 percent from the closing price on Tuesday.
Mexican markets were closed on Wednesday for the Independence Day holiday.
Via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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