The Mexican Peso registered a new year-to-date (YTD) high against the US Dollar on Wednesday amid a scarce economic schedule in the United States (US).
Mexican Peso strengthens to a YTD high amid light US economic data. Banxico Deputy Governor hints at possible rate cuts despite maintaining a restrictive policy outlook. Near-term momentum favors Peso, pushing USD/MXN to new lows despite dovish Banxico remarks. The Mexican Peso registered a new year-to-date high against the US Dollar on Wednesday amid a scarce economic schedule in the United States .
8% YoY and maintained 1.5% for 2025. The slowdown is blamed on higher interest rates at 11.25%, which sparked a shift from three of Banxico’s five governors, who are eyeing the first rate cut at the March 21 meeting. The CME FedWatch Tool shows traders decreased their bets for a 25-basis-point rate cut in June, down from 72% a day ago to 64%. Technical analysis: Mexican Peso rally accelerates as USD/MXN edges toward 16.
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