Mexican Peso Rises Against the US Dollar for the First Time in a Week FXStreet
go to original July 2, 2015

USD/MXN hit a new all-time high at 15.83 but then retreated on the back of the lower-than expected Non-Farm payrolls increase in the US. The pair bottomed at 15.63, a 2-day low and then bounced back toward 15.70.

The Mexican peso is rising for the first time in a week against the US dollar retreating after reaching record highs for two days in a row.

The decline was boosted by a weak US dollar, that lost momentum after jobs numbers in the US failed to increase expectations about a rate hike in September by the Federal Reserve. The central bank could still rise rates in September according to Jon Hilsenrath, despite today’s data.

A rate hike by the Fed, could pushed the central bank of Mexico to do the same, particularly if the decline of the Mexican peso intensifies in the market.

See the original at FXStreet

Related: Mexico's Carstens Says Peso Slump 'Exaggerated' (Reuters)

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