Mexico Peso Rises With Emerging-Currency Peers as Dollar Slips
- Investors eye US inflation data; Chile peso falls on CPI data
- Turkish banks surge after BofA cites rising investor interest
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Mexico’s peso touched its strongest in more than four months, gaining alongside most emerging-market currencies on Monday. Traders are looking ahead to a reading of key US inflation data this week amid evolving bets on when exactly the Federal Reserve will start cutting interest rates.
Thirteen of 24 developing-nation currencies tracked by Bloomberg rose against a weaker dollar on Monday, with MSCI Inc.’s index for emerging-market currencies up slightly in the session. Peru’s sol, South Africa’s rand and Eastern European currencies were among gained.