Mexico central bank confirms 2nd forex intervention, sells dollars in Asian trade
Fri Jan 06 2017
Rachel Long (500 articles)

Mexico central bank confirms 2nd forex intervention, sells dollars in Asian trade

Mexico’s central bank confirmed on Friday it had sold dollars during the Asian trading session on Friday, its second intervention the day after it did the same during Mexican and U.S. trading hours to fight a slump in the peso. At 7:45 a.m. Mexico City time, the peso was up 0.53 percent at 21.31 pesos per dollar.

The bank sold dollars in Asian trading hours, according to an official who declined to be named. The bank did not confirm the amount or exact timing of the intervention.

Mexico’s currency has been battered by the election of Donald Trump as U.S. president, who has threatened to scrap a trade deal between Mexico and the United States and block money transfers. He has also attacked companies that invest in Mexico to produce goods to be sold in the United States.

On Thursday, the central bank sold at least $ 1 billion in U.S. currency in morning trade, four traders told Reuters, asking not to be identified because they were not authorized to speak publicly.

Rachel Long

Rachel Long

Rachel Long is our Desk Correspondent covering Stock Markets across the globe. She is based in New York

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