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Sharp drop in crude prices since last June are likely to dampen prospects of foreign direct investment in Mexico's newly opened oil fields.
- The peso has slumped nearly 10 percent so far this year, prompting the central bank to intervene to limit volatility.
- The peso is extending declines, dragged down by volatile crude prices which fell as low as $27.39 a barrel on Wednesday as worries about a global supply glut overshadowed data showing a surprise drop in U.S. stockpiles.
- MXN failed to benefit from Yellen's comments which eased concerns about the U.S. economy, Mexico's biggest export market.
- Technicals point to further upside, USD/MXN was trading at 18.95, while EUR/MXN was at 21.38 at the time of writing at 0800 GMT.
