Mexican Peso (MXN) extends its rally versus the Greenback (USD) for a fourth consecutive day amid speculations the US Federal Reserve (Fed) might skip
Mexican Peso four-day rally keeps the USD/MXN pair trading below 18.00, near the 200-day SMA. Mexico’s currency strengthens on speculations about the US Federal Reserve as officials disregard a pending rate hike. US Producer Price Index exceeds estimates: A precursor to Thursday’s CPI? the supposedly “last” rate hike, as shown by the latest Fed monetary policy “dot-plots.” Meanwhile, economic data from the United States limited the USD/MXN downtrend, which exchanges hand at around 17.
34. If USD/MXN sellers break that level, the pair will shift to a neutral-downward bias. On the flip side, buyers must reclaim the 18.00 figure for a bullish continuation. Mexican Peso FAQs What key factors drive the Mexican Peso? The Mexican Peso is the most traded currency among its Latin American peers.
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