USD/MXN: Banxico could put some pressure on the Peso if pauses rate hikes – Commerzbank USDMXN Mexico InterestRate Banks
“The majority of analysts surveyed by Bloomberg and Reuters expect a pause tomorrow. This could put some pressure on the Peso, as a minority still seems to expect another rate hike.”
“Fundamentally, however, we see the MXN as well supported and expect it to trade sideways around current levels. With core inflation at 7.7%, Mexico offers an attractive real interest rate in a stable political environment. Moreover, we expect Banxico to leave no doubt that it will promptly address any upside risks to inflation.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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