MEXICAN PESO DECLINES IN KEY PAIRS ON INFLATION OUTLOOK
- The Mexican Peso falls against major peers as inflation outlook in US, Europe and UK remains stickier than expected.
- This will probably lead to interest rates remaining higher for longer providing support to MXN’s counterparts.
- USD/MXN’s short-term trend looks increasingly sideways as it yo-yos in a range.
The Mexican Peso (MXN) trades lower in most pairs on Friday as signs of entrenched inflation in most developed economies push back expectations for interest-rate cuts with bullish implications for their currencies.
USD/MXN is trading up almost two-tenths of a percent at 17.24, EUR/MXN is up over three-tenths at 18.53 and GBP/MXN is up a similar amount at 21.60, at the time of publication during the European session.
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