Mexico's peso whipsaws after U.S. payrolls data
MEXICO CITY, June 7
MEXICO CITY, June 7 (Reuters) - Mexico's peso reversed losses to stage a fleeting rally on Friday, spurred by data showing U.S. hiring rose in May but not at a strong enough pace that could likely push the Federal Reserve to scale back its monetary stimulus.
The peso snapped back from losses of more than 0.5 percent to gain as much as 0.65 percent at 12.7275 per dollar. The currency then settled back around 12.8050 per dollar, nearly flat from Thursday.
The peso had slumped to a five-month low last week on concerns the Fed could scale back its stimulus that has supported demand for riskier assets like emerging market currencies.
- Missing jet may have strayed toward Andaman Sea: Malaysian air force |
- NYC buildings explosion kills two, more missing
- Malaysia military source says missing jet veered to west |
- EU moves towards travel bans, asset freezes for Russians |
- Exclusive: EU approves framework for asset freezes, travel bans on Russia