Wednesday, November 18, 2009

Mexican Peso Advances as Rates Won’t Be Cut


The Mexican peso had a positive performance today versus the greenback as interest rates are unlikely to have further cuts, attracting investors to inject capital in the North American country.

The peso benefited today from a rally in crude oil rates,that crossed the $80 line per barrel in New York, raising appeal for the Mexican currency since the country is one of the main fossil energy suppliers for the United States.
USD/MXN traded at 12.98 as of 17.37 GMT from an opening rate of 13.03 today...link

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