Mexico Peso Falls as U.S. Companies Cut More Jobs Than Forecast

By Valerie Rota

Dec. 3 (Bloomberg) -- Mexico’s peso declined after a report showed U.S. companies eliminated more jobs last month than forecast, threatening to cut demand for Mexican exports.

The peso fell 0.5 percent to 13.6354 per U.S. dollar at 8:54 a.m. New York time, from 13.5649 yesterday. Mexico’s peso has fallen 28 percent from a six-year high on Aug. 4.

U.S. payrolls shrank by 250,000 in November, the most in seven years, ADP Employer Services said. Economists had forecast jobs to shrink 205,000, according to the median estimate in a Bloomberg survey. The U.S. buys about 80 percent of Mexico’s exports.

To contact the reporter on this story: Valerie Rota in Mexico City at vrota1@bloomberg.net.