Mexican Peso registers minimal losses against US Dollar on calm Monday’s session

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• Mexican Peso gets hit by sentiment shifting, down 0.13% against Greenback.
• Mexico’s economy continues to slow down amid the ongoing disinflation process.
• Expectations that Banxico would begin easy monetary policy in Q1 2024 could pave the way for further upside in USD/MXN.

The Mexican Peso (MXN) extends its losses in the mid-North American session against the US Dollar (USD) this amid thin liquidity conditions in the observance of Martin Luther King (MLK) day in the United States (US). The emerging market currency is soft despite interest rate traders expecting the US Federal Reserve (Fed) to cut rates by 170 basis points in 2024, undermining the prospects of the buck. Nevertheless, the USD/MXN trades at 16.87 on Monday, gaining 0.06%.