Mexican Peso Just Hit a 10-Month High
- Seven-day winning streak is longest in more than five years
- Currency is now trading at levels last seen in August
Peso
Photographer: Susana Gonzalez/BloombergThis article is for subscribers only.
The Mexican peso is riding a wave of emerging-market optimism to trade at levels last seen when Donald Trump was a longshot to win the presidency.
After seven straight days of gains -- the longest winning streak since 2012 -- the peso touched 18.03 per dollar on Tuesday, the strongest since August, when Trump was a candidate pledging to tear up trade agreements and build a wall along the Mexican border. His election sent the peso into a record-breaking tailspin as traders fretted about the effect on Mexico’s economy, but the losses since the Nov. 8 ballot have now been erased.