The Mexican Peso extended its losses for the second consecutive day against the Greenback after the latter rose sharply.
Mexican Peso falls for second consecutive day against US Dollar. USD/MXN hits a daily high of 18.33 before trimming gains as Wall Street turns green. Banxico expected to keep interest rates unchanged at 11.00% amid sharp Peso depreciation and recent inflation spike. Fed Governor Michelle Bowman's hawkish comments support USD.
99, followed by the March 20, 2023, high of 19.23, followed by an uptick to 19.50. On the flip side, if USD/MXN tumbles below 18.00, the next key support level would be the 50-day Simple Moving Average at 17.37 before testing the 200-day SMA at 17.23. Once those two levels are cleared, the next stop would be the 100-day SMA at 17.06. Mexican Peso FAQs What key factors drive the Mexican Peso? The Mexican Peso is the most traded currency among its Latin American peers.
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