Friday, May 7, 2010

Goldman Sachs (NYSE:GS) Recommends Mexican Peso

Today Goldman Sachs (NYSE:GS) recommended buying the peso against the U.S. dollar to their clients in a note.

After plunging at its worst levels in 2010 for a three-day period, the Mexican peso started back up today, rising 1 percent to 12.8701 for each U.S. dollar.

Yesterday the Mexican peso dropped to 12.9959 for each U.S. dollar, going as low as 13.3165 per dollar at its weakest point.

For the week the peso was down 4.3 percent, the largest fall since November 2008, while down 5.6 percent over the last three sessions.

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