Emerging Market Currencies, Peso and Real, Rebound on Hopes for Greece

Late Monday trading yielded positive results for Mexico and Brazil's currencies. The expectation that the euro zone and the European Central Bank will take stronger measures and take a more active role to prevent a Greek default from spreading to Portugal, Ireland, Spain and Italy helped markets rebound in late in the day yesterday. Mexico's peso (MXN=D2) rose 0.60 percent to 13.5019 to the dollar.