Mexican peso drops further, among the worst of the week

FXStreet (Córdoba) – The Mexican peso extended losses on Friday and become one of the worst performers during the week in the currency market. Against the US dollar lost 1.5% during the week.

USD/MXN rallies above 15.50

USD/MXN traded yesterday momentarily above 15.500 but today after trading flat below that area during the Asian session, resumed the upside and jumped above. The pair peaked on American hours at 15.585, the highest level since June 10.

Afterwards pulled back modestly but it remained near the 15.60 handled and closer to record highs that reached three weeks ago at 15.77.

A stronger dollar in the market and particularly versus emerging market currencies, boosted USD/MXN, that will post the second highest weekly close on record.

The Mexican peso extended losses on Friday and become one of the worst performers during the week in the currency market. Against the US dollar lost 1.5% during the week.

(Market News Provided by FXstreet)