The Mexican Peso recovered some ground after depreciating more than 2% since Monday, following Trump’s remarks that he would impose tariffs on Mexico.
Mexican Peso climbs some 0.12% following 2% drop since late Monday on Trump’s rhetoric. Mexican President Sheinbaum warns of retaliation with higher tariffs on US imports. Economy Minister Ebrard highlights potential job losses in the US and economic slowdown due to US tariffs. The Peso shrugs off Trump’s comments and appreciates amid broad US Dollar weakness. The USD/MXN trades at 20.62, down 0.12%.
USD/MXN technical outlook: Mexican Peso recovers as USD/MXN dives beneath 20.60 The USD/MXN uptrend remains intact, even though the pair edges lower at the time of writing. If the exotic pair drops below the psychological 20.50 figure, this could pave the way to test the previous year-to-date peak at 20.22, before dropping to 20.00. A bullish resumption would happen once buyers lift the USD/MXN above the YTD high of 20.83, ahead of the 21.00 mark.
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