USD/MXN plummets to seven-year low as Mexican Peso eyes the 17.0000 barrier

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• Market anticipation for Banxico’s monetary policy decision influences USD/MXN trading activity.
• Disappointing New York Empire State Manufacturing Index adds to the US Dollar’s struggles.
• US debt ceiling talks and mixed messages from Federal Reserve speakers impact market sentiment.

USD/MXN prolongs its fall as the Mexican Peso (MXN) continues to strengthen, with the USD/MXN falling to a new seven-year low at around 17.4339, surpassing the July 2017 low of 17.4498, amidst a risk-on impulse that keeps most US equities on the green. The safety status of the US Dollar (USD), has been compromised, as a light US economic agenda, would leave investors leaning on market sentiment, and central bank speaking. At the time of writing, the USD/MXN is trading at 17.4424, down by 0.80%.