Mexican Peso slumps to new two-day low with sellers eye 200-day SMA

Share:

• Mexican Peso starts the session lower as the US Dollar Index (DXY) remains steady around 103.24.
• Despite Wall Street gains, USD/MXN fails to rally sharply due to improved risk appetite and lower US Treasury bond yields.
• Mexico’s economic docket is eyed by traders, expecting the release of Economic Activity and inflation data.

The Mexican Peso begins the Monday session on a lower note against the US Dollar (USD) due to the Greenback capping its earlier losses as shown by the US Dollar Index (DXY), which is virtually unchanged near 103.24. Alongside that, an improvement in risk appetite and falling US Treasury bond yields have deterred the USD/MXN from gaining ground to higher levels, with the pair trading at 17.18, up a decent 0.65%.