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Latin America Business News

Mexico’s Peso Declines for a Fifth Straight Day Against U.S. Dollar

Mexico’s peso fell for a fifth straight day, dropping 0.4 percent to 12.9613 per U.S. dollar at 7:48 a.m. New York time, from 12.9084 yesterday.

“Mexico released another round of weak economic data,” Flavia Cattan-Naslausky, RBS Securities Inc.’s Latin America currency strategist, wrote in a report today. “What is most worrisome about the data is that it comes off of a very lower statistical base, reflecting perhaps one of the most challenging years for Mexico as a result of the swine flu, escalation of drug violence in Juarez, political noise around the fiscal reform and a laggard economic recovery on the back of the U.S.”