USD/MXN: Peso renews monthly high around 16.70 as Mexican GDP, US inflation/employment data loom

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USD/MXN: Peso renews monthly high around 16.70 as Mexican GDP, US inflation/employment data loom
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USD/MXN refreshes the monthly low around 16.70 as bears cheer the broad US Dollar retreat amid a slightly positive outlook on early Monday. In doing s

Broad-based US Dollar pullback joins cautious optimism in the market to propel Mexican Peso.Fed Chair Powell’s speech showed preference for restrictive policy ahead of US Core PCE Price Index, NFP.

US Dollar Index prints the first daily loss while retreating from the highest level since June 01 as traders reassess last week’s hawkish comments from the Federal Reserve policymakers, especially when the markets anticipate a sooner end to the hawkish cycle.

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