Argentine peso on roller coaster after Macri defeat

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Argentine peso on roller coaster after Macri defeatArgentina's peso slipped further against the dollar Tuesday while the stock market partially recovered as South America's third-largest economy continued to take a pummeling in the wake of pro-business President Mauricio Macri's crushing defeat in party primaries. The currency -- which plummeted 18.76 percent on Monday -- closed a further 1.77 percent down on Tuesday after the Central Bank had intervened to stave off bigger falls following losses of more than 3 percent by midday. The stock market rebounded 10 percent on Tuesday after having lost 38 percent in Monday's rout.


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