June 16, 2017 / 7:05 PM / 2 months ago

Mexico's peso hits over 13-month high as Fed hike bets fade

A picture illustration shows Mexican pesos and U.S. dollars banknotes in Mexico City July 6, 2015.Edgard Garrido

MEXICO CITY (Reuters) - Mexico's peso firmed on Friday, hitting its strongest level in more than 13 months after weak U.S. housing and consumer sentiment data backed bets of a slower pace of interest rate hikes in the United States.

The peso MXN=MXN=D2 firmed more than 0.7 percent to 17.8995 per dollar, its strongest since May 12, 2016.

Reporting by Michael O'Boyle and Miguel Angel Gutierrez

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