Mexican Peso (MXN) rallies for the third consecutive trading day against the US Dollar (USD) as risk appetite is back on the financial markets, while
Mexican Peso gathers momentum, breaks below 18.00 on overall US Dollar weakness. Mexico's prices continue to deflate, though the Bank of Mexico is likely to maintain rates at 11.25% for year-end. USD/MXN has fallen to a new three-day low at around 17.97, bolstered by a risk-on impulse. the sudden plunge in US Treasury bond yields takes its toll on the Greenback .
00 Mexican Peso has regained its composure, with the USD/MXN pair gaining downward traction toward the 18.00 figure due to overall US Dollar weakness. Even if the USD/MXN drops below 18.00, sellers must claim key support levels on the way down to regain control and retest the September 30 low of 17.34. First, the 200-day Simple Moving Average at 17.78, followed by the 20-day SMA at 17.54. Conversely, if USD/MXN buyers manage to keep the exchange rate above 18.
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