The Mexican Peso (MXN) falls to a roughly four-week low on Thursday in its most traded pairs as investors rotate out of the carry trade, which favors currencies where interest rates are high, such as in Mexico (11.
The Mexican Peso is weakening as international investors unwind the Peso-favorable “carry trade”. A negative spell of data has further weakened the Peso as Banxico sets its sights on an interest-rate cut in August. USD/MXN extends its short-term uptrend and closes in on the June 28 high at 18.60.
2%, citing a manufacturing slowdown linked to reduced US economic activity, pressuring Banxico towards a more accommodative monetary policy. Furthermore, the Mexican Congress is set to discuss President Andrés Manuel López Obrador's judicial reform on August 1, ahead of the new Congress term starting on September 1, adding complexity to Mexico’s economic landscape. Technical Analysis: USD/MXN closes in on June 28 high at 18.
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