March 15, 2017 / 6:46 PM / a year ago

Mexico peso hits strongest level since Trump win after Fed hike

MEXICO CITY, March 15 (Reuters) - The Mexican peso gained more than 1.5 percent on Wednesday after the U.S. Federal Reserve raised interest rates, reaching the currency’s strongest level since U.S. President Donald Trump’s election in November.

The Fed raised rates for the second time in three months, with officials sticking to their outlook for two more rate hikes this year and three more in 2018.

Peso traders had speculated that the bank could tighten more quickly this year, and the Fed’s guidance helped drive gains in the Mexican currency, analysts said. (Reporting by Miguel Angel Gutierrez; Editing by Richard Chang)

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