Weak retail sales drag Mexico peso

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The MSCI index for Latam currencies was down 0.1%, with Mexico’s peso falling 1% after data showed retail sales decreased 0.5% in May from April.

“Though the Mexican peso stands out among major Latin American currencies as the one that’s performed most poorly today, it’s basically a reflection of the fact that the peso seems to be quite vulnerable to deterioration in risk appetite,” said Kimberley Sperrfechter, emerging markets economist at Capital Economics. Sperrfechter also said the Mexican economy will remain vulnerable to the exposure it has to the U.S. as it is by far its most important trading partner.

Source: El Financiero

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