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Dollar Weakness Prompts MXN To Reach Best Levels Since January

MEXICO
  • Weakness in broad dollar indices overnight has reinforced the most recent bullish tone for the Mexican peso, gradually reaching its best levels since late January. The move lower in USDMXN potentially opens up a target of the year's lows at 19.5494, a primary support for the pair.
  • The U.S. to virtually host the second day of the USMCA Free Trade Commission with senior officials from the U.S., Mexico and Canada.
  • 11:30am: Central bank to announce auction results of:
    • 5b pesos of 28-day Cetes
    • 7.4b pesos of 91-day Cetes
    • 13.5b pesos of 182-day Cetes
    • 11.5b pesos of 350-day Cetes
    • 11b pesos of Bondes D due May 2022 to Nov. 2047

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