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Mexican peso falls to lowest level since January 2023 amid economic worries
The Mexican peso has fallen to a low of 19 per USD, marking its weakest position since January 2023. This significant depreciation comes amid growing economic concerns and signs of a potential slowdown. With the peso struggling against the US dollar, speculation mounts that Banxico, Mexico’s central bank, may need to adopt a more dovish stance to stabilize the currency. Mexico’s economic landscape is increasingly fraught with challenges. In June, the unemployment rate rose to 2.8%, surpassing the anticipated 2.6% and reaching its highest level in five months. This rise reflects deepening difficulties in the labor ... (full story)
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- Posted: Aug 3, 2024 10:00am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,711
