The Mexican peso, meanwhile, fell down for the second straight day on speculation that the central bank will start buying dollars in the foreign exchange in order to weaken the currency, reports Valerie Rota for Bloomberg. The higher-yielding fixed-income securities remained attractive.
The dollar against the Mexican peso:
Chile’s and Mexico’s ETFs are trading higher today:
- iShares MSCI Chile (ECH), down 4.5% year-to-date
- iShares MSCI Mexico (EWW), down 2% year-to-date
- CurrencyShares Mexican Peso Trust (FXM), down 13.7% year-to-date
Read the disclosure, as Tom Lydon is a board member of Rydex Funds.