Mexican Peso Gains on Hopes for Improving Economy

The Mexican peso ticked up today as economists speculated that there are signs of positive developments in Mexico’s economy, which was disappointing investors recently.
This year’s data on economic growth was worse than traders were counting on, making the peso underperform compared to its peers. Yet the official report earlier this week showed that manufacturing production grew 6.8 percent in March from a year ago, demonstrating the biggest increase since February 2012. It led to speculations that the economy is improving, and such talks made the peso a bit more attractive for Forex traders.
USD/MXN edged lower from 12.8983 to 12.8930 as of 7:47 GMT today.

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