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The Mexican peso’s rebound continued on Thursday as the currency rose to its highest level against the buck since the day following Donald Trump’s surprise election win last year.

The currency was up as much as 1.5 per cent to MXN19.61 to the dollar, the highest level since November 9, according to Bloomberg data. The peso is among the best performing emerging market currencies of the year, up 5.5 per cent since the end of 2016.

Thursday’s rally came after a meeting between top US and Mexican officials, including American secretary of state Rex Tillerson and his counterpart Luis Videgaray, ended with a commitment to try to improve relations between the two countries.

The peso is still off 6.7 per cent since election day, given Mr Trump’s consistent criticism of illegal immigration from the Latin American country, his plans to build a wall along the southern American border and his insistence that US manufacturers move production lines back home.

Copyright The Financial Times Limited 2017. All rights reserved.
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