The Mexican peso gained today, but erased its gains on speculations that the slowing global economic growth may have a negative influence on prospects of Mexico’s economy.
The peso was down yesterday, but rebounded today. The gains were limited, though, because of uncertainty that prevails on the Forex market ahead of this week’s EU summit. Banco de Mexico said in its policy meeting minutes that the balance of risks for the nation’s economy has deteriorated.
USD/MXN was down from 13.9120 to 13.8520 today, but rebounded to 13.9350 as of 12:23 GMT.
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