Mexican peso extends decline as U.S. trade tensions escalate.
BLOOMBERG.COM

The dollar pared its weekly loss, benefiting from central bank action in Japan and heightened political risks from Turkey to Mexico. European stocks retreated as UBS Group AG led a decline in banking shares.The greenback rose against most of its major peers. The yen extended its biggest decline in a week and Japanese bonds gained as the nation’s central bank stepped in to buy debt. The peso fell for a second day as souring relations between Mexico and the U.S. pushed the countries closer to a trade war. The lira touched new lows before a review of Turkey’s credit rating, while gold headed for its longest slump in three months.

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