August 6, 2008

Dollar still struggles against the Peso

As oil prices begin to slow down, in fact, there has been a slight decrease in the price of a barrel of crude, however the US Dollar is still struggling against most international currencies but what is truly painful for the American is that the Mexican Peso is continuing to get stronger against the Dollar.

At the moment, the Peso is at a six year high against the Dollar, which may not have a direct financial effect on the US economy, but in the minds of the Americans is means a lot, after there was time when the dollar was strong and could buy almost anything in Mexico.

This has meant that there has been a real rise in the amount of investors from Mexico looking into the US, in such places like Texas where property has also been suffering from the credit crunch making it very attractive to investors with Pesos to back them up.

Source [Reuters]