Mexico's peso extends losses on fears of US recession

Mexico's peso extended its losses late into Sunday, hitting levels not seen since October 2022, amid growing concerns that the United States could be headed for a recession.

The peso was trading at 20.0250 units per dollar, a decline of 4.6% versus the Reuters reference price on Friday.

Mexico's peso was heading for its third consecutive day of losses following soft U.S. manufacturing data on Thursday, compounded by a weak labor market report on Friday.