- USD/MXN falls to seven-year lows, down by 0.63%.
- Mexico’s deflationary process sees May’s CPI falling more than expected, predicted to keep Banxico from raising rates.
- Upbeat market sentiment and expectations for a Fed rate pause ahead of next week’s FOMC meeting weigh the USD.
- Futures market pricing has a 33% chance of a Fed hike next week 90% chance in the July meeting.
USD/MXN falls to new seven-year lows as the Mexican Peso (MXN) continues to appreciate sharply against the US Dollar (USD), even though the Mexican central bank is expected to keep rates higher for longer. The USD/MXN is trading at 17.2695, below its opening price.
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