Mexico’s Peso Leads World Losses as GDP Forecast Cut Amid Woes
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Mexico’s peso led losses among global major currencies, joining a rout in emerging markets, after the nation cut its economic forecast amid a slump in oil output.
The peso fell 1.1 percent at 16.8032 per dollar, the lowest close on record. It also posted the biggest decline among 16 world major currencies tracked by Bloomberg. A custom index with 20 developing-nation tenders extended its plunge over the past year to 20 percent.