Mexican Peso Strengthens as China Brings Relief to Markets

The Mexican peso rose today as the announcement of the Chinese government that it doesn’t plan to stop investing in Europe brought the respite to the global markets.
The forecasts for the Mexico’s economic growth range from 4.3 percent (the pace in the first quarter of this year) to 4.5 percent. Despite these optimistic forecasts for the economy’s growth, the Mexican currency considered vulnerable to the risk aversion sentiment in case the global markets experience yet another turmoil.
USD/MXN traded at about 12.7985 as of 9:35 GMT today down from the opening level of 12.8010.

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