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U.S. equities were in fine fettle in the first quarter of 2017 barring some jitters in March. The S&P 500-based ETF SPY, Dow Jones-based ETF DIA and Nasdaq 100-based QQQ added in the range of 4.5% to 6%. In particular, the S&P 500 logged its best quarterly gain since 2015 and the Nasdaq experienced its best quarter since 2013.
The Bank of Mexico or Banxico has embarked on an aggressive strategy to hike interest rates to combat inflation. Banxico raised its interest rates for the fifth straight time on Thursday, March 30, 2017. The central bank board decided to raise rates by 25 basis points to 6.5%. It led to the peso closing at 18.67/$ on Thursday, March 30, 2017.