Mexico's peso strengthens to its highest level in four weeks

Mexico's peso strengthened on Wednesday to its strongest level since August 19 after the U.S. Labor Department reported weaker than expected inflation in the United States.

Low inflation could complicate the Federal Reserve's decision about whether to raise interest rates.

The peso closed at 16.5420 pesos per dollar in the international foreign exchange market, gaining 0.82 percent from the closing price on Tuesday.

Mexican markets were closed on Wednesday for the Independence Day holiday.