2012.05.08 15:57:03 MARKET TALK: Mexico Peso Slides Vs Dollar On Europe Fears

9:57 (Dow Jones) Mexico's peso is losing ground against the dollar amid a broad greenback rally as markets are hit by fears about new governments in France and Greece. Banorte-Ixe says political concerns in Europe will keep the peso volatile in the coming days and sets a dollar range at MXN13.25-40 for today's session. The brokerage remains neutral on the peso overall and warns against taking directional positions in favor of taking advantage of wider spreads. The dollar is quoted in Mexico City at MXN13.2640, according to Infosel, versus Monday's close of MXN13.1445. (laurence.iliff@dowjones.com) Call us at (212) 416-2354 or email kevin.kingsbury@dowjones.com (END) Dow Jones Newswires May 08, 2012 09:57 ET (13:57 GMT)