Peso pushes higher after Banxico raises rates

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The Mexican peso climbed to its highest level since the day following the election of Donald Trump after the country’s central bank raised interest rates.

The currency was recently up 0.4 per cent against the US dollar to MXN18.6160, the strongest level since November 9, according to Bloomberg data.

Banxico lifted its benchmark lending rate by a quarter-point to 6.5 per cent as it looks to cool down rising inflation.

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