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Mexico's peso breaks 100-day SMA, extends losses
November 8, 2012 / 6:48 PM / 5 years ago

Mexico's peso breaks 100-day SMA, extends losses

MEXICO CITY, Nov 8 (Reuters) - Mexico’s peso weakened sharply to a two-month low on Thursday as global markets fell on mounting concerns about U.S. lawmakers ability to stave off a “fiscal cliff” that threatens the U.S. economic recovery.

The peso shed 0.67 percent to 13.1581 per dollar, its weakest since early September.

Losses accelerated after the cost of dollars in pesos broke past its 100-day simple moving average, around 13.1280, and closed in on the currency pair’s 200-day average near 13.17 per dollar.

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