Mexican Peso advances amid risk-on impulse and soft US Dollar

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• Mexican Peso advances against the US Dollar, USD/MXN threatens 17.00 support area.
• Mexico’s economic docket ahead includes Retail Sales on Wednesday, followed by Thursday’s inflation data.
• US housing data was solid but failed to move the needle in favor of the US Dollar, which remains on the defensive.

The Mexican Peso (MXN) continues to strengthen against the US Dollar (USD) during the North American session on Tuesday, as the Greenback (USD) remains pressured despite US Federal Reserve (Fed) officials pushing back against aggressive bets suggesting the central bank would lower rates by more than 100 basis points next year. Therefore, the USD/MXN trades at 17.07, down 0.49% on the day, after reaching a new three-month low at around 17.02.