Futures Market News
Peso slips against greenback following underwhelming jobs report
Apr 06, 2012 12:28 PM
Despite slow trading during the observation of Good Friday, Latin America's most traded currency fell to its lowest value in two months against the world's reserve currency. Rather than increasing by 203,000, job gains in the nation hosting the globe's largest economy grew by 120,000. The Associated Press reports the unemployment rate fell only because a large segment of Americans stopped job hunting.
"It's clear to every American that there will still be ups and downs along the way and that we've got a lot more work to do," President Barack Obama said Friday during a White House forum on women and the economy, the AP reports.
Shortly after the jobs report was released, the value of the U.S. dollar gained 1 percent.
The peso is sensitive to financial and economic developments in the U.S. since the U.S. is its top trade partner and large amounts of Mexican exports are shipped to the U.S.
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