Latin American Currencies Weaken Versus Greenback, Thursday, July 05, 2007 3:18:55 PM

Latin American currencies weakened against the dollar Thursday in New York. The Mexican peso and Brazilian real both fell against their American counterpart. Greenback traders considered data showing that service sector growth in the U.S. unexpectedly accelerated in June.

The Mexican peso fell against the greenback Thursday in New York. The peso dropped steadily during the bulk of the morning and into the early afternoon. At 12:50 pm ET, the Mexican currency touched an intraday low of 10.8080 against its American counterpart. The peso rebounded a little from its losses over the next couple of hours, climbing to a mark of 10.7945 at 2:55 pm.

The Brazilian real retreated against the greenback Thursday in New York. The morning was dominated by uncertain trading. The Brazilian currency advanced briefly in the early afternoon, but beginning a sharp decline. By 3:00 pm ET, the real traded at a mark of 1.9175 against its American counterpart. This is compared to an intraday high of about 1.9080 at around 12:30 am.

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