The Mexican peso was rallying significantly this week but had its gains halted as Philadelphia manufacturing posted a timid grow for the past months, raising doubts towards the economic recovery pace in the United States.
The United States is Mexico’s main trading partner, and final destination for more than 80% of the nation’s products, and today, as concerns regarding the economic recovery in the U.S. rose as Philadelphia manufacturing figures came less optimistic than previously excepted, the peso lost versus most of the 16 main traded currencies.
USD/MXN traded at 13.08 as of 20:59 GMT from an opening rate of 13.06 this Thursday.
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