The Mexican Peso (MXN) seesaws between tepid gains and losses in its most-traded pairs on Friday as it stabilizes after the previous day’s rally.
The Mexican Peso has paused after rallying on easing fears about tariffs from the US and a trade war. The Mexican Trade Surplus grew in October and the economy is growing at a higher pace than expected. Technically, USD/MXN unfolds a down leg within its range. The Mexican Peso seesaws between tepid gains and losses in its most-traded pairs on Friday as it stabilizes after the previous day’s rally.
Given that maintaining elevated interest rates is positive for a currency because it increases net foreign capital inflows, the new shallower descent described in November should constitute an underpinning positive factor for MXN. Technical Analysis: USD/MXN descending within range USD/MXN unfolds a down leg within the mini range formed during November. USD/MXN 4-hour Chart USD/MXN is probably range-bound in the short term as it oscillates within this mini range.
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