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Mexican Peso (MXN) remains on the defensive against the US Dollar (USD), hitting a weekly low of 17.93 as shown by the USD/MXN due to hawkish comments by US Federal Reserve (Fed) Chair Jerome Powell.
Mexican Peso prints modest gains against the US Dollar in early trading on Thursday, with traders awaiting the Bank of Mexico (Banxico) monetary policy decision.
Outlook: The big story today may well be the 10-year auction ($40 billion) after demand was okay for the 3-year yesterday.
The USD/CHF pair turns directionless around 0.8750 in the European session, following the footprints of the US Dollar Index (DXY). The Swiss Franc ass
Fed speakers show growing divergence on how to proceed with monetary policy. Atlanta Fed Bostic (non-voter) is inclined to pause at the June meeting, but he confirmed that the committee is still out on the issue. If he had a bias between going up or down as a next move, it would still be up. Resilient consumer spending and tight labour markets pose upside inflation risks even as the Fed’s earlier tightening measures will start having a bigger impact.