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Peso Rallying with Commodities

MXN
  • Resurgent risk sentiment sees the Bloomberg commodity Index break out to it's best levels of the week, currently up 0.85% on the session.
  • The sharp rally in crude especially, has bolstered the Peso, after marginally struggling since yesterday's rate decision.
  • USDMXN currently testing most recent range lows which, looking ahead to next week, could soon trigger a break of the Jan 25 low of 19.8546. A more sustained move would open up 19.5494, the Jan 21 low and a key support.

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