Mexican Peso at 4-Month High on U.S. Recovering Data

The Mexican peso started the week at the highest level in 4 months as the United States are signaling that the path out of recession has been already started.

The Mexican currency climbed to a 4-month high as the United States, Mexico’s main traded partner consuming more than 80% of its exports, is likely to revive its economy as reports last week brought investors’ confidence back to purchase dollar-priced assets, consequently favoring the U.S. dependent Mexican economy.

USD/MXN traded at 12.924 as of 21:15 GMT from a previous rate of 12.955 in Friday.

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