The Mexican Peso (MXN) edges lower on Tuesday morning after mildly retreating the prior day.
The Mexican Peso tardes slightly lower, extending themild weakening fromMonday. US Retail Sales data, the Fed policy meeting and BoE meeting are key events this week. USD/MXN forms a bearish “Three Black Crows” Japanese candlestick pattern. The Mexican Peso edges lower on Tuesday morning after mildly retreating the prior day. This may be as a result of profit-taking after MXN’s average 3.
Initially, markets discounted the Peso due to fears about a fall in foreign investment due to proposed constitutional reforms by the Morena-led coalition government. These concerns have subsided recently, and one of the most controversial of them – the election rather than appointment of judges – passed into law on Sunday when outgoing president Andres Manuel Lopez Obrador signed an official decree, according to El Financiero. At the time of writing, one US Dollar buys 19.
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