The Mexican Peso climbed against the U.S. dollar in late Asian trading on Friday, moving off from its yesterday's record lows, after the Mexican central bank intervened in the forex market to stem the currency's slide.

The central bank action was aimed to "provide liquidity and mitigate the volatility that has been observed in recent days," the bank said in a statement on Thursday.

The central bank intervention came a day after the currency slumped to a record low of 21.62 on fears over the protectionist policies proposed by U.S. President-elect Donald Trump.

The currency was trading higher at 21.23, compared to Thursday's closing value of 21.42. The Mexican Peso is likely to find resistance around the 20.00 mark.

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