Argentina's peso has rebounded following the government's decision to boost the reference interest rate to 40 percent. The peso was selling at 22.20 per dollar in the afternoon, recovering from a record of 23.30 on Thursday afternoon. It was one of several international currencies hurt by rising U.S. Treasury bond yields. He told reporters Friday the country is on "a path toward fiscal equilibrium." But he acknowledged that the interest hike could keep the inflation rate from dropping this month.

Source: ABC News May 04, 2018 19:52 UTC