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USDMXN 20.25/28 Support Holds Firm

MEXICO
  • USDMXN remains stubbornly bid above 20.25/28 support and underperforms the region significantly throughout Wednesday’s session. The pause in the MXN rally follows the significant Peso recovery/rally throughout December and January. A contributing technical factor could be the break of 3.70 in BRLMXN in yesterday’s session that saw a strong, more than 2% rally.
  • An explosion was registered on a Pemex pipeline in the Mexican state of Tabasco, Televisa reports. No injuries have been reported.
  • Twitter blocked Mexico billionaire Ricardo Salinas Pliego for violating rules about abusive behavior, a spokesperson said in response to questions from Bloomberg News.

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