Free Trial

MXN Bounces, BRL Subdued

LATAM FX

DXY weakness and latest uptick in risk puts a bid back into MXN, cementing 20.25 as short-term resistance in USDMXN.

  • Just to reiterate, the Banxico Bill will be debated in the lower house of Mexico's Congress and the measure could go to a vote later today.


Slightly more subdued action in USDBRL today. 5.13 had been approached earlier which is the highest we have been since the COPOM statement on the 9th Dec and matches with yesterday's high print.

  • The target to fill the gap would be 5.1683

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.