June 7, 2013 / 2:56 PM / 4 years ago

Mexico peso firms sharply to trade around 200-day SMA

1 Min Read

MEXICO CITY, June 7 (Reuters) - Mexico's peso firmed sharply on Friday after data showed U.S. hiring rose in May but was not seen at a strong enough pace to push the Federal Reserve to scale back its monetary stimulus.

The peso firmed 1.1 percent to 12.6692 per dollar, driving the cost of dollars in pesos to around its 200-day simple moving average.

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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