Mexicos peso on Thursday surged for a third straight session in international trade, boosted by optimistic outlooks for the US banking sector and Japans surprisingly large stimulus package. The peso firmed as much as 1.6 percent to 13.17 per dollar in low volume international trade, its strongest level since late December.
Local markets were closed for the Easter holiday. Wells Fargo said it expected to see about $3 billion in first quarter net income. Mexicos peso has rebounded by more than 17 percent from a 16-year low hit on March 9, boosted by bets the slowdown is moderating in the United States, Mexicos top trading partner, as well as the local governments decision to access nearly $80 billion in international credit lines.
Comments
Comments are closed.