The Mexican Peso (MXN) held close to flat on Tuesday, paddling around 19.00 as Peso traders find their balance following a 1.2% drop in the MXN’s value against the Greenback.
The Mexican Peso treaded water on Tuesday following Monday’s 1.2% backslide. Banxico recently delivered a rate cut despite an uptick in headline inflation figures. Mexico’s central bank expects inflation bump to smooth out. The Mexican Peso held close to flat on Tuesday, paddling around 19.00 as Peso traders find their balance following a 1.2% drop in the MXN’s value against the Greenback. The Bank of Mexico recently cut interest rates by a quarter-point despite an uptick in headline inflation.
The pair remains firmly pinned on the high side of the 200-day Exponential Moving Average at 17.59, and a firm pattern of higher lows is bolstering technical support in favor of the Greenback. USD/MXN daily chart 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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