Markets

Mexico's peso reverses losses, gains over 1pc after Fed hike

Published December 16, 2015 Updated December 16, 2015 08:44pm

1 min

By Shoaib Ur Rehman

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MEXICO CITY: Mexico's peso, which has been pummeled by fears a US interest rate hike would spur investor flight, rose over 1 percent on Wednesday after the US Federal Reserve raised borrowing costs.

The currency , which has tumbled more than 15 percent this year, reversed earlier session losses to gain over 1 percent. It later trimmed gains to trade at 16.9795 per dollar.

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