Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Mexico Peso Declines Most Among Major Currencies on Fed Concern

Mexico’s peso fell the most among major currencies as an increase in U.S. durable goods orders added to speculation that the Federal Reserve will curtail a stimulus program that has boosted emerging-market assets.

The peso depreciated 1.1 percent to 12.5410 per U.S. dollar at 4 p.m. in Mexico City, its biggest decline on a closing basis since April 15. The drop was the largest among the 16 most-traded currencies tracked by Bloomberg. The peso has fallen 1.5 percent since May 17 in a third weekly drop, the longest stretch of losses since November.

Mexico’s statistics agency reported that the unemployment rate rose to 5.04 percent in April from 4.51 percent and the central bank reported a deeper-than-forecast $5.532 billion current account deficit in the first quarter.

“We recommend caution in the short term in long peso positions,” Juan Carlos Alderete, a strategist at Grupo Financiero Banorte SAB, said today in an e-mailed research report. A long position is a bet an asset will gain in value.

U.S. durable goods orders increased 3.3 percent last month after dropping 5.9 percent in March, the Commerce Department reported today in Washington. The median forecast of economists surveyed by Bloomberg was for a 1.5 percent increase. Mexico sends about 80 percent of its exports to its northern neighbor.

Yields on peso bonds due in 2024 rose 11 basis points, or 0.11 percentage point, to 5.10 percent today, the highest level since Feb. 28, according to data compiled by Bloomberg. The price fell 1.31 centavo to 142.72 centavos per peso. The yields have increased 39 basis points this week.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.