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Mexican Peso’s Rally Falters as Investors Sour on Risk
The Mexican peso tumbled amid a fresh bout of global risk aversion, supporting calls on Wall Street that the currency was set to fall after a torrid seven-month rally. The peso was among the worst performers globally on Thursday, weakening 1.8% to 17.33 per dollar in its fourth-straight drop as investors flocked to the greenback and sent long-term US yields higher. Dubbed the “super peso” during its ascent, the currency is now on track to post its worst week in 20 months with a loss of about 3.8%. The losing streak is poised to continue as global investors grapple with a bigger-than-expected sale of US ... (full story)