Mexico Peso Ends Worst Streak in 7 Months on Intervention Bets

09/21/16 Bloomberg

peso by Guanatos GwynThe Mexican peso ended its longest losing streak since February as traders bet the central bank will step in to stem losses fueled by concern over the outcome of the U.S. presidential race.

The peso strengthened 0.4 percent to 19.7257 per dollar as of 5:23 a.m. in Mexico City, its first advance on a closing basis in seven days. The move is in line with currencies of other commodity producers as oil prices climbed back toward $45 per barrel in New York and the Bank of Japan’s monetary stimulus boosted demand for riskier assets.

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