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Mexico peso weakens due to less U.S. stimulus

Thursday, June 20, 2013

Mexico's peso fell to its weakest level in seven months Wednesday while local stocks closed lower.

The situations comes after Federal Reserve Chairman Ben Bernanke said the U.S. central bank could start moderating its asset purchases this year.

Emerging market currencies have been under pressure for the past month as participants position for an eventual reduction in the U.S. monetary stimulus.

Source: Wall Street Journal