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MEXICO: Mexican Peso Recovering, MXNJPY 2.5% Off Lows

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  • The recovery in USDJPY from 14-month lows following robust US data earlier has also driven a rebound in MXNJPY which has risen almost 2.5% from it’s intra-day lows. This has also supported a reversal in USDMXN, which is now trading 0.6% lower on the day around the 19.11 level, having traded as high as 19.40 earlier in the session.
  • The move lower in USDMXN has narrowed the gap to the next key support at 19.0667, the 50-day EMA. A clear break of this average, would undermine a bullish theme and expose 18.5999, the Aug 16 low.
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  • The recovery in USDJPY from 14-month lows following robust US data earlier has also driven a rebound in MXNJPY which has risen almost 2.5% from it’s intra-day lows. This has also supported a reversal in USDMXN, which is now trading 0.6% lower on the day around the 19.11 level, having traded as high as 19.40 earlier in the session.
  • The move lower in USDMXN has narrowed the gap to the next key support at 19.0667, the 50-day EMA. A clear break of this average, would undermine a bullish theme and expose 18.5999, the Aug 16 low.