Currency Note Worldwide

Mexican peso has a strong day

By Smart Currency October 31st, 2013

Elsewhere yesterday we saw the Canadian dollar continue with the strength it had been showing since the start of the week in anticipation of last night’s statement from the US Federal Reserve. The strength came about amid speculation in the market that sluggish growth in the states will prompt the Federal Reserve to announce a decision to maintain monetary stimulus. Any US monetary stimulus is good news for the Canadian dollar, with the US being Canada’s primary export destination. We saw the Swiss franc perform well after the release of a forward-looking survey on the economy’s prospects in coming quarters came in with significantly higher-then-forecast results. Domestic spending and a growth in exports were the main drivers of the brightened sentiment. The Mexican peso also had a particularly strong day. Late last night we had an interest rate decision and consumer confidence figures out of New Zealand, as well as building approvals data out of Australia. Looking forward to today we have a Bank of Japan press conference and GDP figures out of Canada. Get in touch with your trader for live rates