Economics
Mexico Peso Jumps From 18-Month Low on Economic Growth Outlook
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Mexico’s peso rose from an 18-month low on speculation the global economic recovery will weather signs of a U.S. manufacturing slowdown. Bank of America Corp. said buy the currency.
The peso appreciated 1.6 percent to 13.3226 per U.S. dollar at 4 p.m. in Mexico City, the biggest advance since Sept. 18, according to data compiled by Bloomberg. The currency fell 1.3 percent yesterday to its weakest level since July 2012 as a report from the Tempe, Arizona-based Institute for Supply Management showed that manufacturing expanded at the weakest pace in eight months in the U.S., the Latin American nation’s biggest trading partner.