Related News:
Mexican Peso Strengthens After Initial Jobless Claims in the U.S. Decline
Mexico’s peso gained as the number of workers filing initial jobless claims in the U.S., the nation’s largest trading partner, fell.
The peso gained 0.1 percent to 13.0567 per dollar at 9:05 a.m. New York time, from 13.0683 yesterday.
“The month has started out fairly positive in terms of U.S. data,” said Aryam Vazquez, an emerging-markets economist at Wells Fargo & Co. in New York. “The underlying fundamentals in Mexico seem relatively solid, still.”
The number of Americans who filed for jobless benefits fell by 6,000 to 472,000 in the week ending Aug. 28. The U.S. purchases about 80 percent of Mexico’s exports.
The peso will end the year at 12.5 per U.S. dollar, Bank of America Merrill Lynch said in a note to clients today.
The yield on Mexico’s 10 percent bond due in 2024 rose three basis points, or 0.03 percentage point, to 6.76 percent, according to Banco Santander SA. The price fell 0.3 centavo to 129.57 centavos per peso.
To contact the reporter on this story: Andres R. Martinez in Mexico City at amartinez28@bloomberg.net
Rate These Stories
Rate this Page