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MEXICO CITY, Dec 16 (Reuters) - Mexico's peso, which has been pummeled by fears a U.S. interest rate hike would spur investor flight, rose over 1 percent on Wednesday after the U.S. Federal Reserve raised borrowing costs.
The currency , which has tumbled more than 15 percent this year, reversed earlier session losses to gain over 1 percent. It later trimmed gains to trade at 16.9795 per dollar.
Reporting by Miguel Gutierrez