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Mexican peso slumps to record low against dollar

Wednesday, July 8, 2015

Mexico’s currency fell to a record against the dollar, illustrating the downside of popular emerging-market trades at a time of anxiety about higher interest rates in the U.S.

Touted for years by Wall Street strategists and bond investor Bill Gross, the peso has failed to deliver even though Mexico stands to benefit from a strengthening U.S. economy.

Source: Wall Street Journal