Mexican Peso Fluctuates On Growth Concern & Favorable Outlook

The Mexican peso fluctuated today, following the yesterday’s decline, amid the speculations that the import in China diminishes, increasing the concerns that the global economy might falter.

Imports of copper and copper products into China fell to 328,231 metric tons (17 percent) in June from May. Copper prices have declined 10 percent in 2010 on the speculations that demand would fall. Some analysts say, though, that fundamentals should push the Mexican currency higher in the second half of this year.

USD/MXN traded near its opening price of 12.828 today as of 8:20 GMT.

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.