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

Bloomberg Customers

Mexico Peso Gains as U.S. Economic Reports Boost Export Outlook

Mexico’s peso rose for a third day as data showing the U.S. economy is improving boosted the outlook for the Latin American nation’s biggest export market.

The currency rose 0.5 percent to 13.2226 per U.S. dollar at 4 p.m. in Mexico City. Today’s rally pared the loss this quarter to 6.7 percent and 3.1 percent in June. Yields on government bonds maturing in 2042, the nation’s longest-dated peso debt, increased nine basis points to 7.43 percent.

Better-than-forecast reports today on U.S. durable-goods orders, housing and consumer confidence bolstered optimism in the world’s biggest economy. U.S. bookings for durable goods climbed 3.6 percent, Commerce Department data showed, while separate reports on house prices, new-home sales and consumer confidence topped estimates. Mexico sends about 80 percent of its exports to its northern neighbor.

“The market understands that the data have improved and that the economy is getting better,” Roberto Galvan, a currency trader at Intercam Casa de Bolsa SA, said in a telephone interview from Mexico City.

The Mexican currency has fallen in the past month amid speculation the Federal Reserve will reduce its latest round of stimulus, known as QE3, which had fueled demand for higher-yielding emerging-market assets. Fed Chairman Ben S. Bernanke said June 19 that policy makers could end the $85 billion in monthly bond purchases if economic risks in the U.S. abate.

Galvan said that initially the “very good” U.S. data caused the peso to pare gains as it fueled speculation about the Fed tapering its stimulus. “The market in reality doesn’t know what to do,” he said.

Please upgrade your Browser

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

Chrome, Firefox, Safari, Opera or Internet Explorer.