The Mexican Peso pauses in its recovery in most major pairs.
Risk appetite continues to be positive, however, supporting a bullish outlook for the Peso.
Analysts at Rabobank expect the Peso to appreciate as long as volatility remains subdued.
The Mexican Peso (MXN) has stalled after rallying against most counterparts over recent sessions. The Peso had been supported by a rise in risk appetite from easing geopolitical tensions and strong US tech company earnings.
On Tuesday the general market mood remains positive, helped by the Caixin Chinese Manufacturing PMI – which hit a 14-month high – as well as French and Spanish GDP growth beating estimates in Q1.
USD/MXN is trading at 17.03, EUR/MXN at 18.22 and GBP/MXN at 21.34, at the time of publication during the European session.
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