Mexican Peso Advances Versus U.S. Dollar After Central Bank Intervention
05 Enero 2017 - 7:42PM
RTTF2
The Mexican Peso climbed against the U.S. dollar in late Asian
trading on Friday, moving off from its yesterday's record lows,
after the Mexican central bank intervened in the forex market to
stem the currency's slide.
The central bank action was aimed to "provide liquidity and
mitigate the volatility that has been observed in recent days," the
bank said in a statement on Thursday.
The central bank intervention came a day after the currency
slumped to a record low of 21.62 on fears over the protectionist
policies proposed by U.S. President-elect Donald Trump.
The currency was trading higher at 21.23, compared to Thursday's
closing value of 21.42. The Mexican Peso is likely to find
resistance around the 20.00 mark.
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