The Mexican Peso appreciates further against the US Dollar on Monday with Peso buyers breaching the October 2015 high after overcoming the psychological 16.50 figure.
Mexican Peso strengthens against US Dollar, drawing below significant levels last seen in October 2015. The first presidential debate highlights the contrast between Claudia Sheinbaum's and Xochitl Galvez's visions for Mexico 's future. Upcoming economic indicators from Mexico and the US, including inflation and industrial data, set to provide further market direction. On Monday, a light economic docket on both sides of the border keeps the USD/MXN downtrend intact.
32, with traders posing to drive the exchange rate below that level toward the 16.00 figure. Even though the Relative Strength Index turned oversold, sellers are gaining momentum. Therefore, the next support would be the psychological 16.00 figure. On the other hand, the USD/MXN first resistance would be the 16.50 mark, followed by last year’s 16.62 mark. 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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