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USDMXN Remains Above March 2021 Highs


JAPAN FIX - 29/11/21

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The fierce upward move in play in the 1-Year/1-Year swap rate, which has been in motion since late September, has extended in the wake of the Q3 CPI release (see earlier bullets for more colour on the broader market fallout and RBA matters in the wake of the firmer than expected underlying inflation readings). The measure is now back to levels not seen since May '19.

Fig. 1: AUD 1-Year/1-Year Forward Swap Rate (%)

Source: Bloomberg