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MEXICO: USDMXN Extends Move Higher, Approaching Overnight Highs

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • USDMXN has extended the move higher off the early NY lows, with the pair 1.8% higher on the day again and approaching the overnight highs around 20.75, despite President Sheinbaum saying she will send a letter to US President-elect Trump urging dialogue following his pledge of across-the-board tariffs of 25% on Mexico.
  • For now, price action continues to be capped by the post-election peak of 20.8072, a multi-year high for the pair. Clearance of this hurdle would confirm a resumption of the uptrend, opening the 21.00 handle.
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  • USDMXN has extended the move higher off the early NY lows, with the pair 1.8% higher on the day again and approaching the overnight highs around 20.75, despite President Sheinbaum saying she will send a letter to US President-elect Trump urging dialogue following his pledge of across-the-board tariffs of 25% on Mexico.
  • For now, price action continues to be capped by the post-election peak of 20.8072, a multi-year high for the pair. Clearance of this hurdle would confirm a resumption of the uptrend, opening the 21.00 handle.