Excerpt from: Forex News
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| April 27, 2009 | | Peso drops more than any other currency in forex trading | An outbreak of swine flu is wreaking havoc in Mexico right now. Mexican assets are threatened as concerns surrounding the deadly flu surface. The Mexican peso has been especially hard hit in currency trading on the FX market.
Indeed, the peso has sunk more than any other currency in forex trading. With concerns over tourism, stocks and other problems, swine flu is causing a mass exit from Mexican assets.
Until this outbreak of swine flu, the peso had been starting to make up ground. Risk appetite -- thanks to an improvement in the global equity markets -- was returning to the FX market, and emerging market currencies like the peso were benefitting. Now, though, risk is back, and Mexico is especially troubled.
| Topic Tags: currency forex trading, currency trading, emerging market currencies, forex trading, FX market, Mexican assets, Mexican peso, peso currency trading, swine flue | |
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