Free Trial

DXY Strength Causes USDMXN, USDBRL To Squeeze

LATAM FX
  • Grind higher in the dollar index contributing to small squeeze in USDMXN up to 19.87 and USDBRL back to 5.15.
  • Note that cumulative volumes in the majors a touch below recent averages.
  • If the move were to continue, USDMXN should encounter strong resistance once again at 19.95/20.00 area.
  • USDCLP whilst off the best levels, remains broadly in line with yesterday's close with the Bloomberg Commodity Index still up 0.5%.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.