Mexican Peso faces sharp decline as geopolitical risks escalate, hawkish comments from Boston Fed's Susan Collins weigh on market mood. Speculations of imminent Iranian attack on Israel prompt flight to safety. Fed's Susan Collins revises rate cut expectations, suggesting a cautious approach to monetary easing.
Technical analysis: Mexican Peso succumbs to the Greenback, USD/MXN rallies toward 16.60s The USD/MXN remains downwardly biased despite printing a leg up toward the 16.70 area. Although buyers have lifted the exchange rate to current levels, they must reclaim the 50-day Simple Moving Average at 16.82 to have a chance of challenging the 17.00 figure. Once those two levels are cleared, the next stop would be the 200-day SMA at 17.16 before aiming toward the psychological 17.50 mark.
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