Mexican Peso (MXN) extends its losing streak against the US Dollar (USD), sliding more than 0.65%, as the USD/MXN has risen to a three-day high of 18.
Mexican Peso continues to slump as USD/MXN buyers target 18.40 with the US Dollar edging up. Mexico’s economic calendar to feature the Unemployment Rate on October 26. USD/MXN is underpinned by a risk-off mood and elevated US bond yields. 39 after bottoming at around 18.23 during Wednesday’s European session. Market mood remains deteriorated as corporate earnings in the United States keep Wall Street equities under pressure while the conflict in the Middle East, keeps traders wary.
00 psychological figure for sellers to reclaim the 200-day Simple Moving Average at 17.73. Mexican Peso FAQs What key factors drive the Mexican Peso? The Mexican Peso is the most traded currency among its Latin American peers. Its value is broadly determined by the performance of the Mexican economy, the country’s central bank’s policy, the amount of foreign investment in the country and even the levels of remittances sent by Mexicans who live abroad, particularly in the United States.
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