The Mexican Peso depreciates at the beginning of the week against the US Dollar as the latter refreshes four-month highs, according to the US Dollar Index (DXY).
Mexican Peso plunges over 1.51% as Dollar Index hits four-month high, fueled by Trump policy expectations. Banxico likely to cut rates by 25 bps, with core inflation nearing target, adding pressure on Peso. Mexico’s Consumer Confidence improves, while Banxico decision and US inflation data to shape USD/MXN trend. The Mexican Peso depreciates at the beginning of the week against the US Dollar as the latter refreshes four-month highs, according to the US Dollar Index .
00 The USD/MXN uptrend remains in place, though buyers might encounter some stir resistance ahead. Despite hitting a daily peak of 20.57, bulls failed to challenge the year-to-date high at 20.80. Once cleared, the next stop would be 20.82, followed by the 21.00 mark, ahead of March 8, 2022, peak at 21.46. Conversely, sellers must regain the 20.00 figure, if they would like to challenge the 50-day Simple Moving Average at 19.70.
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