The Mexican Peso (MXN) is weakening in its key pairs on Monday as the odds shift marginally in favor of former President Donald Trump winning the United States (US) presidential election in November.
The Mexican Peso is losing ground as Donald Trump edges past Kamala Harris in the polls. Trump has vowed to slap massive import tariffs on Mexican goods, especially cars, so if he wins, it will negatively impact MXN. USD/MXN starts rallying back up within its rising channel after a brief pullback. The Mexican Peso is weakening in its key pairs on Monday as the odds shift marginally in favor of former President Donald Trump winning the United States presidential election in November.
This suggests there probably now will not be a pullback unfolding lower. The pair is again on the rise at the start of the week and appears to be resuming its uptrend. USD/MXN Daily Chart The break above 19.83 confirmed a continuation up to the next target in the vicinity of the September 10 high at 20.13, which remains live. The Moving Average Convergence Divergence momentum indicator is rising quite strongly after bottoming out at the zero line, supporting a mildly bullish outlook overall.
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