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Powerful Reversal As USDMXN Rejects Late March Highs

MXN
  • USDMXN has reversed considerably following the earlier test of the late March highs around 20.97.
  • The move has extended post the FOMC statement/press conference and shows a powerful rejection of these technical levels.
  • Latest headlines indicate the lingering headwinds for the Peso, however, the technical aspect proving a strong supportive factor for MXN during today's session.
  • *PEMEX, CFE PREFERENTIAL TREATMENT CONTRADICTS USMCA: LAWMAKERS (BBG)
  • *U.S. LAWMAKERS SEND LETTER ON MEXICO ENERGY TO TRADE OFFICIALS (BBG)

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