FX Markets

Argentine peso slides


BUENOS AIRES -- The Argentine peso plummeted to all-time lows last week, and analysts and traders warned that deeper losses are likely.

The currency hit 2.5 pesos to the dollar on Tuesday (March 12), a far cry from its free-floating price of 1.4 to the dollar, set following the nation's debt default and devaluation in January.

"Our view is that [these moves] will continue," said David Mann, FX strategist at Standard Chartered Bank in London. "We look for the peso to trade near 5 to the dollar on a

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