June 7, 2013 / 12:50 PM / 4 years ago

Mexico's peso whipsaws after U.S. payrolls data

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.

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