Mexican Peso tanks on high US bond yields, strong US Dollar

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• Mexican Peso prolongs its losses, with sellers eyeing 17.70.
• Mexico’s remittances post an annual advance of more than 8%.
• Banxico’s USD/MXN FIX for October 2 at around 17.59.

The Mexican Peso (MXN) fall continued late in the North American session, with the USD/MXN pair approaching the 17.70 area for the second time in the last four trading sessions due to no fundamental reasons. Risk aversion and a strong US Dollar continued to drive price action as the pair exchanges hands at around 17.69, gaining more than 1.50%.