Mexican Peso Forecast: Contingent on Energy Shortages and US Yields
(MENAFN - DailyFX) USD/MXN Forecast: Neutral Advertisement The Mexican Peso hasn't fared too well this past week and is down 2.7% this week against four major currencies (USD , GBP , EUR , and JPY ). USD/MXN has been able to consolidate a push above the 20 Pesos mark, gaining traction as the pair managed to break above the 76.4% Fibonacci at 20.18. The main objective for bulls is likely to be a push above the yearly high at 20.60, before attempting to reclaim the 21 Pesos mark.USD/MXN Daily chart Some of the weakness attributed to the Mexican currency this week has to do with the power out...
Source: menafn.com