Free Trial

MEXICO: President Indicates Mexico Has Sufficient Reserves for MXN Depreciation

MEXICO
  • "Mexico Has Enough Reserves to Withstand Peso Depreciation: AMLO" (BBG)
  • As a reminder USDMXN rose to as highs as 20.2181 overnight as the sharp risk-off moves roiled markets. Since then, the peso has stabilised somewhat and USDMXN has been edging lower across the US session, back below 19.50 in recent trade.
  • USDMXN remains up 1.3% on the session. A clear break of the 20.00 handle would pave the way for an extension towards 20.7642, the 76.4% retracement of the bear leg between Nov ‘21 and Apr this year.

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.