Mexican Peso Extends Gains on Optimism

The Mexican peso had the fifth consecutive gains versus the U.S. dollar as optimism is helping stocks to climb globally, damping demand for the greenback and attracting investors to emergent markets like Mexico.

Mexico is along with Brazil, South Africa and others, one of the nations that witnessed a climb in their currencies’ value this week as renewed risk appetite initiated an exodus of capital from currencies like the U.S. dollar and the Japanese yen, as traders opted mainly to inject many into emergent markets, attempting to achieve higher profit margins in riskier territories.

USD/MXN traded at 13.355 as of 18:12 GMT from an opening price of 13.366.

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