Mexico's Ortiz: crisis demanded FX strategy shift

The Bank of Mexico had to directly intervene in foreign-exchange markets for the first time for more than a decade earlier this month because of the severity of the impact of the crisis on currency trading, Guillermo Ortiz, the governor of the Bank of Mexico, said.

Speaking at a press conference at a Bank Negara Malaysia event on Wednesday, Ortiz said: "There is atypical behaviour in foreign-exchange markets. The market is a lot thinner than pre-September levels so a few transactions have a s