Mexico's peso hits over 19-month high, reverses losses

MEXICO CITY, April 5 Fri Apr 5, 2013 11:22am EDT

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MEXICO CITY, April 5 (Reuters) - Mexico's peso firmed sharply on Friday to a more than 19-month high, reversing steep losses after a weak payrolls report in the United States, Mexico's top trading partner.

The peso firmed as much as 0.64 percent to 12.2332 per dollar, its strongest since late August 2011.

Mexico's peso is expected to keep gaining ground due to optimism about the new government's economic reform plans, and traders said investors took advantage of the steep sell off on the U.S. data that took the peso to as weak as 12.40 per dollar.

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