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Mexican peso slumps to six-year low against dollar

Monday, March 9, 2015

Mexico's peso tumbled on Friday despite central bank intervention, hitting a six-year low as investors fled emerging markets and fixed-income investors bet that higher interest rates are in store on both sides of the border.

Unexpectedly strong U.S. jobs data fueled bets that the U.S. Federal Reserve could raise interest rates in June, which could hasten the investor exodus from emerging markets.

Source: Reuters