The Argentine peso strengthened as much as 2% Wednesday, on track for its best close since the US Treasury started to buy local currency ahead of the midterm elections on Oct. 26.
- The rally is from the close on Monday as trading was halted Tuesday due to the holiday in the US
- Traders cite a wave of
corporate bond issuances in dollars following the election as a reason for the strong peso and a wider supply of US dollars in the local market. - The currency was up 1.4% at 1,400/USD as of 12:55 pm in Buenos Aires
- NOTE: The peso ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.