Stronger US rates and weaker stocks push USD/MXN higher
As a result of risk off, emerging markets currencies also took a hit.
Source: cityindex.co.uk
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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
Currency pair of the week: USD/MXN
Currency pair of the week: USD/MXN Joe Perry February 8, 2021 2:17 PM The Bank of Mexico meets this week and there is a possibility they may cut rates Share: During the first few weeks of Joe Biden’s Presidency, he has put pen to paper signing executive orders on everything from immigration to climate change to wearing masks. However, as mentioned in the Week Ahead, the main focus in his early days has been on his $1.9 stimulus package making it way...
Source: cityindex.co.uk