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Markets

Mexico's peso slips on Yellen's comments, Trump tax plan

Published September 27, 2017 Updated September 27, 2017 06:35pm
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By Fawad MaqsoodReuters
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MEXICO CITY: The Mexican peso slipped more than 1 percent on Wednesday to its lowest level since July 7 on a broad dollar rally after US Federal Reserve Chair Janet Yellen confirmed the outlook for further rate rises.

The peso also lost ground against the dollar as US President Donald Trump and Republicans in Congress prepared to outline a new tax plan on Wednesday.

"Stocks and the dollar are rising while bonds are pressured by increased investor expectations about possible fiscal stimulus and a more restrictive monetary stance in the United States," Banorte-Ixe bank said in a report to clients.

Copyright Reuters, 2017
 

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