April 5, 2013 / 6:41 PM / 5 years ago

Mexico's peso firms nearly 1 pct, breaks key level

MEXICO CITY, April 5 (Reuters) - Mexico’s peso extended sharp gains on Friday, breaking a key level at 12.20 per dollar as it traded at its strongest in more than 19 months.

The peso firmed almost 1 percent to as strong as 12.1940 per dollar.

Mexico’s peso may keep gaining ground due to optimism about the new government’s economic reform plans and expectations the country could see a credit ratings upgrade this year.

Traders said investors took advantage of a steep sell off in the peso early in the session on weak U.S. jobs data to pile into the currency.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below