Mexico Peso Holds at Three-Week Low on U.S. Consumer Confidence
Mexico’s peso held at the lowest level in three weeks after confidence among U.S. consumers fell in August by the most in 10 months.
The peso was little changed at 13.1899 per U.S. dollar at 4 p.m. in Mexico City, settling at the weakest level since Aug. 7. The peso has gained 5.7 percent this year, the most among the dollar’s 16 most-traded counterparts tracked by Bloomberg.
Data today showed that confidence among U.S. consumers fell in August by the most in 10 months as households grew more pessimistic about the economic outlook. That wiped out earlier gains in the currency after another report showed home prices in 20 U.S. cities climbed in June from a year earlier, the first gain in almost two years. Mexico sends about 80 percent of its exports to the U.S.
The yield on Mexico’s peso-denominated bonds due in 2024 decreased two basis points, or 0.02 percentage point, to 5.47 percent, according to data compiled by Bloomberg. The price rose 0.19 centavo to 140.54 centavos per peso.
To contact the editor responsible for this story: David Papadopoulos at firstname.lastname@example.org