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MXN Reverses Earlier Losses Back to Unchanged Before FOMC

LATAM FX
  • Following USDMXN making a new marginal high above the March 24 high of 20.97, there has been a strong short-term reversal back to unchanged ahead of the fed announcement later today.
  • The strength in MXN follows the continued bid in the Brazilian Real, extending gains against the greenback to 1.33%.
    • USDMXN up 0.06% at 20.7952
    • USDBRL down 1.33% at 5.6108
    • USDCLP up 0.42% at 816.15
    • USDCOP up 1.09% at 3837.5
    • BBG Dollar Index Unchanged at 1162.4

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