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Dollar Spikes After Fed Decision, USDMXN Breaks Key Resistance

LATAM FX
  • FED REACT – Bloomberg Dollar Index Rises 0.5% To Highest Since May 6
  • Needless to say the biggest surprise to the updated interest rate projections is the 2 hikes seen in 2023.
  • Dollar Spikes and sees USDMXN immediately through yesterday's highs above 20.20 and is now through the 100-day MA at 20.2385. Key resistance was seen at 20.2132, Jun 4 high where a sustained break is required to alter the bearish technical picture.
  • USDBRL had already crept back above 5.00 but now challenging the best levels of the session around 5.0555.

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