Mexico Peso Leading Losses Shows Limits of Interest-Rate Boost
- Currency posting world’s biggest decline as sentiment sours
- Central bank raised borrowing costs last week to support peso
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The Mexican peso posted the world’s biggest decline as investors grew increasingly pessimistic about the outlook for global growth following the U.K.’s decision to leave the European Union.
The peso tumbled 1.9 percent to 18.7667 per dollar at 1:53 p.m. in New York, leading losses among about 150 currencies tracked by Bloomberg and extending its decline since the referendum on EU membership to 2.9 percent.