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Governor Rodriguez Doesn't Rule Out Scenario Where Banxico Cuts, Even As Fed Holds

MEXICO
  • In an interview with El Financiero, Banxico Governor Rodriguez said that the economy is in a solid position to face any external or internal challenges, according to Bloomberg.
  • Rodriguez said that she doesn’t see a need to intervene in FX markets at this time. She also doesn’t rule out a situation where Banxico cuts rates, even as the Fed holds.
  • USDMXN (+0.44%) has edged up to around 18.40 today, underpinned by the post-US data reversal higher for the greenback. The pair has traded in a relatively tight range compared to prior sessions and remains below last week’s high near 18.60 after Banxico’s decision. 19.00 remains the key short-term topside level of note.

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