The peso dropped to its lowest level for 38 months Thursday, reaching 14.50 to the dollar mid-afternoon before settling at 14.32. The Mexican currency has fallen 9.69 percent this month, easily the worst performer of the world’s major currencies.
Some U.S. financial analysts said a new opinion poll (see story page one) putting leftist presidential candidate Andres Manuel Lopez Obrador only four points behind Enrique Peña Nieto of the centrist Institutional Revolutionary Party (PRI) was a major factor in Thursday’s sell off.
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