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Further Dollar Strength Prompts MXN Weakening

  • USDMXN has recently breached the 20.2502 July highs and the pair now trades at the highest level since June, currently up 0.52% on the day.
  • Additionally, the daily trendline from the March and June highs has been breached and the daily/weekly close will be eyed for potential signs of an extension higher in the pair.
  • Above here, the next notable technical level comes in at 20.3504, 61.8% of the recent Jun 18 - 25 downleg. The June high at 20.7488 represents firm resistance.
  • Citibanamex publishes its biweekly survey of economists with forecasts for growth, inflation, exchange rate and policy moves.
  • However, the focus domestically will be on June retail sales and Aug-15 Bi-Weekly CPI data released Monday and Tuesday next week.


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