The Mexican Peso (MXN) is rising in its key pairs due to strong investor risk appetite on Monday, which favors the Mexican Peso and commodity-linked currencies.
The Mexican Peso rises in its key pairs as investor risk appetite improves. China, Japan and South Korea reopen free-trade talks, tech stocks rally. Speculation of Banxico cutting interest rates in June is high, according to a leading poll. The Mexican Peso is rising in its key pairs due to strong investor risk appetite on Monday, which favors the Mexican Peso and commodity-linked currencies. During the Asian session, stocks rose, with the Shanghai Composite clocking up gains of 1.
Technical Analysis: USD/MXN pulls back after tracking higher USD/MXN – or the number of Pesos that can be bought with one US Dollar – has weakened a little since peaking on May 23, and has broken below the grey trendline of the recovery from the May 21 low. This has weakened the outlook somewhat, however, the new short-term uptrend remains intact and still favors longs over shorts. USD/MXN 4-hour Chart A break above the 16.
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