The USDMXN reflected the broad Forex world yesterday when the currency pair suddenly bounced higher as it reacted to the U.S inflation data published:
Enter your emailThe Mexican Peso has been stronger against the USD the past year, more than many of the other major currencies, largely because Mexico is a large exporter of Crude Oil.reflected the broad Forex world yesterday when the currency pair suddenly bounced higher as it reacted to the U.S inflation data published.
A low of nearly 19.78800 was displayed yesterday, and the day before on Monday a depth around the 19.75400 was briefly tested. The lows produced the past two days tested support last challenged in the second week of June this year. A mark of 20.10900 was demonstrated for a moment, but since then the USD/MXN has moved slightly lower again. Tuesday’s burst higher within the USD/MXN demonstrated clearly the currency pair does now trade in a vacuum. The Mexican Peso has been stronger against the USD the past year, more than many of the other major currencies, largely because Mexico is a large exporter of Crude Oil.Having traded above the 20.
Yesterday’s Core Consumer Price Index results came in with a 0.6% gain compared to the anticipated mark of 0.3%
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