USD/MXN posts modest gains around 17.90 during the Asian session on Tuesday. The rebound of the pair is bolstered by the renewed demand for US Treasur
USD/MXN recovers some lost ground and hovers around 17.90. Chicago Fed and Philadelphia Fed President maintained their dovish stances, which weigh on the US Dollar. World Bank raised its economic growth projection for Mexico to 3.2% in 2023. Investors await the US Retail Sales for September. y yields. In the absence of top-tier economic data released from Mexico, the USD/MXN pair remains at the mercy of USD price dynamics and risk sentiment.
Last week, the US Consumer Price Index annually and monthly for September came in at 3.7% and 0.4%, respectively. Both figures exceeded market expectations. In accordance with the International Monetary Fund , the World Bank raised its economic growth projection for Mexico to 3.2% in 2023. This forecast surpasses the Ministry of Finance of Mexico's expectations. It’s worth noting that the Bank of Mexico’s committee decided to maintain the interest rate at a record high of 11.
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