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The Mexican peso is gaining ground, approaching 16 pesos per dollar, as the U.S. dollar weakens and gold prices surge.
Bloomberg reports the peso is up 0.58 percent against the dollar this Monday, trading at 17.26 pesos. that’s 10 centavos lower than the close on January 23rd.
The peso’s strong performance continues a trend from last week, when it gained nearly 30 centavos against the dollar amid uncertainty surrounding Donald Trump’s attempts to acquire Greenland.
The global dollar continues its decline, driven by expectations of lower interest rates this year.Investment flows are also playing a role.
