Peso falls to its weakest level in more than two months

The Mexican currency was trading at 19.6771 per dollar, with a loss of 1.42%, or 27.61 cents, compared to 19.4010 pesos of the Reuters reference price on Friday

The peso depreciated on Monday amid persistent fears that a prolonged trade war between the United States and China could significantly hamper global growth, while the market awaits the central bank’s monetary policy decision this week.

The Mexican currency was trading at 19.6771 per dollar, with a loss of 1.42%, or 27.61 cents, compared to 19.4010 pesos of the Reuters reference price on Friday.

“The Mexican peso starts the week with greater weakness, reflecting the worst performance on Monday among emerging currencies, given a global outlook characterized by strong geopolitical risks. Investors attentive to the monetary policy decision of @Banxico this Thursday,” he wrote in his account Twitter, Alejandro Padilla, director of Strategy, Fixed Income and Banorte Exchange Rate.

The local currency fell almost 2% earlier until 19.7738, its lowest level since June 7.

Source: reuters

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