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Greenback Weakness Prompts MXN Reversal

MXN
  • Driven by the quick spike in EURUSD, the sharp turnaround in dollar indices is benefitting MXN, which has moved from near 1% weaker against the greenback to close to unchanged on the session.
  • Last week's lows to watch out for at 19.8150 should the downward trajectory in USDMXN continue. Lows of the day reside at 19.8761. TIIE swap rates remain little unchanged, lower by 1-3bps across the curve.
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