Bllomberg-Businessweek, 2/14/12
Mexico’s peso weakened as investor concern the European debt crisis will deepen overshadowed an increase in auto production in the Latin American country.
The peso fell 0.5 percent to 12.7660 per U.S. dollar at 10:40 a.m. in Mexico City, from 12.6982 yesterday. It has gained 9.2 percent this year, the most among major currencies tracked by Bloomberg.
Moody’s Investors Service yesterday cut the debt ratings of six European countries including Italy, Spain and Portugal and said it may strip France and the U.K. of their top Aaa ratings, citing Europe’s debt crisis. Mexican production of cars and light trucks reached 202,701 units in January, a 1.2 percent increase from a year earlier, the nation’s Automobile Industry Association, known as AMIA, reported today.
