Mexican Peso (MXN) lost value against the US Dollar (USD) early during the North American session, extending its downtrend to three straight days, wei
Mexican Peso exchange rate with the US Dollar hits a two-week high as the USD/MXN hits 18.39. Mexico’s preliminary GDP report showed a 3% YoY growth in September. In the US, jobless claims portray a hot labor market, and traders await Fed Chair Jerome Powell's speech at 16:00 GMT. ghed by risk aversion amid rising geopolitical worries due to the Middle East conflict. That and high US Treasury bond yields underpin the USD/MXN to print a new two-week high of 18.
50 USD/MXN buyers are preparing to challenge the October 6 cycle high at 18.48. A breach of the latter would expose the psychological 18.50 level, followed by the March 24 high at 18.79 before rallying to 19.00. On the downside, the uptrend would be at risk if the USD/MXN pair falls below the 20-day Simple Moving Average at 17.86 and the October 12 low of 17.75. Mexican Peso FAQs What key factors drive the Mexican Peso? The Mexican Peso is the most traded currency among its Latin American peers.
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