Mexico peso weakens amid uncertainty on Greece aid
MEXICO CITY |
MEXICO CITY Feb 10 (Reuters) - Mexico's peso weakened on Wednesday amid uncertainty over whether Greece may get help in tackling its fiscal problems.
The peso MXN=MEX01 fell 0.33 percent to 13.0425 per U.S. dollar after firming by the most in over three months in the previous session. The peso found support at the 13.07 level, an early session low.
A German government official said Wednesday there has been no decision on providing aid to Greece and added there was also no decision pending. For details, see [ID:nLDE6191R6]
The euro pulled back against the dollar after the German official's comments. Emerging market currencies, such as the peso, often closely track the euro as a proxy for investor appetite for riskier investments.
The comments cut into optimism seen Tuesday, when global markets rallied on reports that euro zone countries may have decided to help debt-stricken Greece.
"The whole world is trading on what will happen with Greece, and we are seeing volatility on any comment," said Enrique Trejo, head of currency trading at brokerage IXE in Mexico City.
"The peso is following the euro. If the euro breaks 1.3720, we will head past 13.10," Trejo said. (Reporting by Michael O'Boyle; editing by Jeffrey Benkoe)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints



Follow Reuters