FXStreet (Córdoba) – Latin-American currencies failed to benefit from a weak US dollar and continued to slide. Greenback reached new record highs in Mexico and Colombia today, extending the rally.
USD/MXN soars above 16.50
Yesterday the Mexican peso was among the worst performers in the currency market, weakened by the decline in commodity prices and unaffected by the statement made by Agustin Carstens, governor of the Bank of Mexico, who said that the institution would do anything possible in order to avoid that the depreciation of the peso affects domestic prices.
USD/MXN traded yesterday below 16.40 and today reached a new record high at 16.79. After a modest correction found support at 16.65 and currently it trades at 16.73,
USD/COP in uncharted territory above 3000
The Colombian peso fell today for the second day in a row to new record lows against the US dollar. So far 2015 it has lost 25% off its value. USD/COP broke a key resistance yesterday, the 3000 line, that also has a psychological importance. Today the pair consolidate on top and advanced further reaching 3062.
(Market News Provided by FXstreet)