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Sharp Greenback Weakness Not Fully Reflected By MXN

LATAM
  • Greenback weakness has not fully filtered through to the Mexican Peso overnight, given the sharp 1% declines for the USD index, which now approaches the 102.00 mark.
  • Last week saw a decent pull back in the yield differential for the USD against other core markets and with the pick-up in risk sentiment to start the week, as reflected in higher US equity futures, the US dollar has lost significant ground against other major currencies.

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