A Bull in Mexico
Mexico's peso rose against other world currencies on Friday, marking the fourth day in a row the currency appreciated, according to Bloomberg.
Speculation is that Mexico's currency is appreciating due to the broader economic recovery.
Policy makers at the Mexican central bank met on Friday. In their meeting, they left the bank's 4.5% interest rate unchanged, as most economists expected.
Traders looking to play the Mexican peso might consider CurrencyShares Mexican Peso Trust (NYSE: FXM). FXM attempts to return a value corresponding to the strength of the Mexican peso.
Investors might also consider a broader play on the Mexican economy. Traders may look at iShares MSCI Mexico Index (NYSE: EWW). EWW tries to return a value corresponding to the broader Mexican economy and was trading up on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.