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USDMXN Back below 18.00 Following Post US CPI Rally

MEXICO
  • The strong bounce for USDMXN on Thursday has moderated and spot has been consolidating back below 18.00 as we approach the end of the week.
  • The data docket is empty which leaves MXN at the mercy of global drivers and potentially the UMich data from the US later in the session. Some desks reported that they saw leveraged greenback buyers following US CPI and the RM sector were sellers on spikes.
  • Mexico’s Labor Ministry could report nominal wages for September as early as Friday.

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