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USDMXN breaks the prior week's highs to trade back above 20.00. Momentum for the Peso appears to have been halted following the failed attempts at 19.80 and path of least resistance in the short-term could set up a further squeeze.
- As noted, resistance comes in at 20.2427, Apr 13 high.
- Focus turns to Q1 GDP data on Friday.
- Economic activity data released yesterday may have sapped any optimism for the prints.
- Central Bank Deputy Governor Heath expressed his concern via twitter by stating this was "not a good start for the recovery".