(File photo)
Mexico’s peso slipped on Thursday Nov. 17, pulling back after a modest rally this week, but an interest rate hike by the country’s central bank later in the session could support the currency.
The peso slid about 0.4 percent to 20.30 per dollar.
Reuters reported the peso dipped after the head of the U.S. Federal Reserve said the central bank could raise interest rates “relatively soon.” Higher U.S. interest rates could sap demand for emerging market assets.
The peso extended losses after U.S. consumer prices recorded their biggest increase in six months in October, backing bets for a Fed hike in December.
Mexico’s peso was battered to a record low by the election of Donald Trump as U.S. president and it shed more than 8 percent last week. The peso has gained back some ground in the past three sessions and is up more than 2 percent this week.
Economists polled by Reuters projected Mexico’s central bank could raise interest rates by 50 basis points to 5.25 percent later on Thursday but the market was tilted toward bets on a 75-basis-point hike.
Source: reuters.com
Comments
more recommended stories
Yucatan on alert due to the “black mosquito” transmitter of deadly virusMERIDA Yucatan, Mexico. – The Health.
Stars will shine in the “Nobel Peace Summit Yucatan 2019”A wide range of activities will.
Two-day tribute to Cuban singer, bandleader and songwriter Benny MoréOne hundred years ago, one of.
Mexico’s Pacific Coast prepares for incoming hurricaneLOW PRESSURE WITH HIGH LIKELIHOOD FOR.
International analysts and critics complain Mexico’s Austerity Plan has gone too farMexico’s president Andrés Manuel López Obrador.
Chiapas Mexico reports several Dengue fatalities during 2019August 19th, 2019 – Severe Dengue cases.
AMPI Quintana Roo, seeks to convince baby boomers to retire in Quintana RooAMPI and AMAR will offer housing.
Mexican man facing voter fraud trial in Sacramento… oddly enough, he’s a Trump supporter!For years, President Trump has claimed.
Banding 2019: actions for the preservation of Caribbean Flamenco in the Yucatan PeninsulaOn Sunday August 18th, the annual.
“Yucatecan Products Fair” at local Soriana storesYucatecan products manufactured and produced at.
Leave a Comment