Mexican Peso Falls On U.S. Jobs Report & European Crisis

The Mexican peso fell today on the concerns that the global recovery may slow, fueled by the lower than expected payrolls in the U.S. and the sovereign-debt crisis in Europe.

The analysts expected that nonfarm payroll employment in May would increase by 521,000, while the actual growth was only 431,000 and the private sector added only 41,000 jobs. The threat of the debt crisis’s expansion across the Europe still destabilizes the global markets, affecting the peso.

USD/MXN traded near 12.9887 as of 08:43 GMT today after it opened at 12.9321.

If you want to comment on the Mexican peso’s recent action or have any questions regarding this currency, please, feel free to reply below.