The Mexican peso lost value to the U.S. dollar on Wednesday, closing three consecutive sessions of strong performances as a consequence of Germany indicating it opposes bailout fund mergers, according to Bloomberg. As Europe's most vibrant economic power, Germany's preferences hold large amounts of weight. The nation will not approve of two bailout funds being… Read more.
Wednesday saw Latin America's most traded currency climb when compared with the greenback as a consequence of uplifting industrial data from October, according to Reuters. The Mexican peso increased after data indicated U.S. production grew 0.7 percent last month, a significant increase over September's 0.1 percent fall. The median estimate of 72 analysts surveyed by… Read more.
Monday saw Latin America's most traded currency minimally drop in value as a result of careful investors watching the new prime ministers of Italy and Greece to assess how they will handle the sovereign debt scourge, according to Dow Jones Newswires. Mario Monti of Italy and Lucas Papademos of Greece fill the vacancy created by… Read more.
The Mexican peso, the most traded of Latin America's monetary units and the moneypiece of one of the region's two most rapidly developing economies, fell to its lowest value in one week of trading in response to the leader of Greece announcing on Tuesday he will yield to the will of the people, according to… Read more.
Latin America's most traded currency ended a four-day bearish trend against the U.S. dollar on Tuesday, according to Reuters. The Mexican peso benefited from congressional testimony of Ben Bernanke, U.S. Federal Reserve chief, who said additional monetary easing is on the table as one method of spurring the U.S. economy. Another factor to benefit the… Read more.
The beleaguered Mexican peso's struggle will pass and the monetary unit will rebound, the nation's top banking official told reporters. Agustin Carstens, Mexico central bank governor, said the peso and the monetary units of the other Latin American currencies are set to bounce back after a rough patch, according to Bloomberg. Carstens made the comment… Read more.