Mexican Peso churns on Thursday, hitting fresh highs before falling back into familiar levels

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• The Mexican Peso gains further ground as the US Dollar selloff continues.
• Mexico’s Jobless Rate stays unchanged in November, US Jobless Claims climbed last week.
• Coming up on Friday: US Chicago PMI, Mexico Fiscal Balance.

The Mexican Peso (MXN) continued to climb through the penultimate trading day of 2023 before falling once more as broad-market US Dollar flows dictate the general direction of the FX market. A thin trading week between two market holidays is seeing some rough chop as speculators churn USD flows in thin market volumes to round out the 2023 trading year.