Emerging-market currencies rose as Mexico’s peso halted a three-day slump after central-bank intervention. Stocks rallied.
In a very volatile session, tMexico’s peso climbed as much as 1.5 percent after Banxico confirmed that it was selling dollars to bolster the exchange-rate from a record low. Gains started to fizzle by mid-morning as some traders deemed the intervention as insufficient to contain the downward pressure. In the afternoon, the peso almost erased the advance after Trump threatened Toyota Motor Corp. with a border tax for planning to build a factory in Mexico.