Mexican Peso Recovers Losses Spurred by Pick for Banxico Chief
- Developing-nation currencies benefit from dollar weakness
- Mexican peso was second-best emerging currency on the day
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The Mexican peso rebounded against the dollar, recovering from three-day slump driven by a surprise announcement for the future leadership of the Mexican central bank.
The peso climbed as much as 1.8% on the day to 21.2839 on Tuesday, briefly strengthening back to where it was before the announcement that Victoria Rodriguez would be nominated to head Banco de Mexico.