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MXN benefitting comments made by.......>

MEXICAN PESO
MEXICAN PESO: MXN benefitting comments made by U.S. President Trump during the
NY/Asia crossover, as he noted that "Mexican tariffs are off of the table" as
the country is doing a great job.
- USD/MXN last deals 240 pips or so lower at MXN 19.1035.
- Bears target a break through yesterday's low at MXN19.0386, which would allow
them to focus on psychological support at 19.0000. A break here would expose the
June 21 low at MXN 18.9726. The gamechanger would be a break below trend support
drawn off the April 2018 low, which comes in at MXN18.9167 today. Bulls look to
reclaim the 55- & 100-DMAs after the close below on Monday, before switching
focus to the June 25 high at MXN19.2734.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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