Mexico's peso extends gains on stimulus hopes
MEXICO CITY July 27, |
MEXICO CITY July 27, (Reuters) - Mexico's peso firmed sharply on Friday on hopes that the Federal Reserve and the European Central Bank will offer further stimulus measures, a move that often drives foreign inflows into emerging markets.
The currency advanced as much as 1.07 percent to 13.2700 per dollar after data showed U.S. economic growth slowed in the second quarter, raising expectations that the Fed could move closer to pumping more money into the economy to spur growth.
The currency is on track to strengthen 0.6 percent this week.
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