The Mexican Peso (MXN) continues appreciating in its key pairs on Wednesday after the release of Mexican macroeconomic data on Tuesday showed continued signs of inflationary pressures in the economy.
The Mexican Peso is rising after the release of broadly inflationary data suggests interest rates might remain elevated. Relatively high interest rates in Mexico, at 11.00%, are drawing foreign capital inflows, supporting MXN. USD/MXN has broken below the key June 24 low at 17.87. The Mexican Peso continues appreciating in its key pairs on Wednesday after the release of Mexican macroeconomic data on Tuesday showed continued signs of inflationary pressures in the economy.
The slower increase in core inflation could be critical in terms of the outlook for interest rates in Mexico, according to investor advisor service of Capital Economics. “Core inflation edged down last month.
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