Mexican Peso Falls to One-Year Low on Federal Reserve Concern
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Mexico’s peso dropped to its lowest level in a year as U.S. manufacturing growth added to speculation that the Federal Reserve will curtail a stimulus program that has supported emerging-market assets.
The peso depreciated 0.4 percent to 13.3855 per U.S. dollar at 4 p.m. in Mexico City, the weakest closing level since July 2012. Yields on peso bonds maturing in 2024 increased nine basis points, or 0.09 percentage point, to 6.5 percent, according to data compiled by Bloomberg.