Mexico’s Peso Resumes Rally After Banxico Sells Dollars Again
- Central bank intervenes for a second session in two days
- Thursday’s intervention was overshadowed by Trump’s tweet
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Mexico’s peso rebounded in Asian trading hours as Banxico sold dollars directly to banks to support the currency.
On Thursday, the currency climbed as much as 1.5 percent after Banxico confirmed that it was selling dollars to bolster the exchange rate from a record low. The rally reversed after U.S. presidential-elect Donald Trump threatened Toyota Motor Corp. with a border tax for planning to build a factory in Mexico.