Mexico's peso rises 0.6% against the dollar

Mexico's peso rose 0.6% against the dollar, outperforming other emerging-market currencies. This increase followed praise from US Commerce Secretary Howard Lutnick for Mexico's measured response to US tariffs, contrasting with concerns over potential trade tensions. Lutnick highlighted that Mexico and the UK avoided retaliatory tariffs, which could provoke a strong US response. Meanwhile, Mexico's economy chief announced consultations with companies to prepare for an April 2 deadline, further supporting the peso's gains. In contrast, central and eastern European currencies struggled against the dollar. Emerging-market shares fell, driven by declines in technology stocks, as hedge funds reduced their risk exposure ahead of anticipated tariffs.