After touching a 9-day low of 11.6283 by about 7:45 am ET, the US currency reversed its direction against the Mexican peso during New York late morning trading on Wednesday. At present, the greenback is worth 11.67 versus the peso, compared to 11.6578 hit late New York Tuesday.
In the economic news, Mexico’s retail sales increased 1 percent year-on-year in May, markedly slower than the 4.9 percent growth recorded in April, data released by statistical office INEGI showed today.
On a monthly basis, retail sales decreased 2.09 percent during the month, reversing the 1.62 percent growth recorded in April. In the January-May period, sales rose 2.5 percent from the corresponding period last year.
At the same time, wholesale sales in the country advanced 4.8 percent annually in May, reversing the 4.1 percent decrease seen in April. Month-on-month, wholesale sales rose 1.27 percent, after growing 3.20 percent in the previous month.