Mexico peso hits 7-week high on energy reform optimism
MEXICO CITY Dec 9 (Reuters) - Mexico's peso firmed sharply on Monday to its strongest level in seven weeks after lawmakers unveiled a more audacious than expected bill to open up state-run energy industries to greater private investment.
The peso gained 1 percent 12.8020 per dollar, its strongest level since mid-October.
Chart watchers are eyeing gains to around 12.75 per dollar, which coincides with the currency's 200-day simple moving average.
While a further advance from that level may be difficult amid global concerns about less U.S. monetary stimulus, a break of the 200-day SMA could suggest a further rally to 12 per dollar or beyond, according to chart analysts.
- Malaysia Airlines denies crash report, says plane still missing |
- UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- China draws red line' on North Korea, says won't allow war on peninsula
- No signal picked up from missing Malaysia Airlines plane-Vietnam official
- Malaysian plane crashed off Vietnam coast: state media