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Peso Reverses Off Earlier Lows

  • MXN reverses off daily lows, paring initial losses and trading to fresh session highs against USD, EUR and GBP in recent trade.
  • Earlier weakness in the currency came as part of a delayed reaction to reports that the US is preparing to accelerate its complaint that Mexico’s ban on genetically modified corn violates the nations’ free-trade deal.
  • Initial USDMXN support to watch lies at 16.9118, the Aug 10 low.

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