MEXICAN PESO APPRECIATES AS FED-INSPIRED GOOD MOOD CONTINUES
- The Mexican Peso edges higher in most pairs on an upbeat market mood.
- Investors are relieved the Fed did not suddenly change course and threatened to raise interest rates at its May meeting.
- Mexico S&P Global Manufacturing PMI data eases lower but remains in expansionary territory.
The Mexican Peso (MXN) edges higher in most pairs on Friday as investor risk appetite remains strong, supporting commodity-related currencies and risk-sensitive FX such as the Mexican Peso.
Asian markets tracked Wall Street higher overnight as fears melted away following the slightly dovish outcome of Wednesday’s Federal Reserve (Fed) meeting. Investors had started to fear the Fed might suddenly change its course and start raising interest rates amid persistent inflation.
USD/MXN is trading at 16.96, EUR/MXN at 18.22 and GBP/MXN at 21.28, at the time of publication during the European session
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.