Mexican Peso (MXN) gave up some of its Monday’s gains against the US Dollar (USD) after data from the United States (US) boosted the Greenback (USD).A
Mexican Peso reverses its course, weakens against the US Dollar, losing more than 0.40% Mexico’s CPI for October’s first half eases as Banxico has held rates unchanged since March 2023. US business activity improves, exiting contractionary territory as per S&P Global PMIs. dditionally, US Treasury bond yields jumped, even though there is growing consensus amongst investors that the US Federal Reserve will keep rates unchanged once again when it meets on November 1.
On the flip side, the USD/MXN must drop below the 18.00 psychological figure for sellers to reclaim the 200-day Simple Moving Average at 17.73. 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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