Mexican Peso Extends Nine-Day Rally on Jobs Data, Easing Gulf Tensions
The Mexican peso strengthened for a ninth straight session on Wednesday, with USD/MXN falling to 17.24 as softer US jobs data and easing Gulf tensions weighed on the dollar.
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The USD/MXN pair dropped to 17.24 on Wednesday, extending the peso's winning streak to nine consecutive days. The greenback remained on the defensive after softer-than-expected US jobs figures, which come ahead of the highly anticipated Nonfarm Payrolls report.
De-escalation of the Gulf War added to dollar weakness, boosting appetite for the risk-sensitive Mexican currency.
Source: FXStreet Forex News