Mexican peso hits 10-month high, long bets at four-year high

6/9/2017 Reuters

Pesos by Flickr user AleiexMexico’s peso currency reached an almost 10-month high on Friday and data on derivatives market bets showed investors have taken the most optimistic view on the currency in four years.

The Mexican currency clawed its way back to levels last seen before the election of Donald Trump as U.S. president as higher oil prices helped lift emerging market currencies.

The peso firmed to 18.1125 pesos per dollar, its best level since Aug. 18, but then pulled back a bit to trade around 18.17 per dollar, about 0.1 percent stronger on the day.

Trump’s election victory drove the currency to a record low on fears he would rip up a trade deal with Mexico.

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