⁍ The peso firmed 1.4% against the dollar.
⁍ The dollar index hit an over two-year low due to the surging number of U.S. COVID-19 cases.
⁍ Economists now expect Brazil’s economy to shrink by 5.8% this year.
– The Mexican peso hit a nearly six-week high against the dollar on Monday, helped by a weakening US dollar, Reuters reports. The peso was up 1.4% against the dollar as of late morning in Mexico, which posted a record trade surplus in June. Other Latin American currencies also rose, with Brazil’s real up 0.9%, Colombia’s peso up 1.8%, and Argentina’s peso down 0.8%.
Source: https://www.reuters.com/article/emerging-markets-latam/emerging-markets-latam-fx-capitalize-on-dollar-weakness-mexican-peso-at-6-week-high-idUSL2N2EY1DC