The Mexican peso managed to high the highest level in October after speculations suggested that the government will find the support needed to pass a budget reform in the country, helping the national currency to rally.
Emergent market currencies benefited today from a positive performance in stock markets, attracting investors to higher-yielding opportunities in countries like Mexico, which witnessed a climb in its currency after a fiscal reform in country is likely to be approved in the national congress, adding confidence to the country’s unity.
USD/MXN traded at 13.22 as of 20:40 GMT from an opening rate of 13.27
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