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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessUSD/MXN Reverses 50% Of Tuesday Rally
- Some early price action across USD/MXN puts the pair at session lows ahead of the NY crossover, with MXN clawing back a small part of yesterday's losses following Powell's hawkish policy testimony.
- Just over 50% of the Tuesday move has now been retraced, with next intraday supports undercutting at 18.049 and 18.0181 (61.8% and 76.4% retracements).
- 17.9488 marks the more notable level of support - the Friday and multi-year low, with USD/MXN not showing below that mark since 2017. Few releases on the slate for Mexico today, with focus remaining on February CPI data due Thursday.
To read the full story
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Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.