Free Trial

USDMXN Consolidates Back Above 20.00 Overnight

MEXICO
  • USDMXN extended a gradual rally yesterday, registering gains of around 1% and trading back above 20.00. The TIIE swaps curve bear steepened with 5-yr TIIE swap rates approaching the highest levels for April around 5.95%.
  • A combination of higher US yields, a marginally firmer dollar and some weaker domestic data have been the catalyst for the measured squeeze.
  • Resistance in USDMXN remains 20.2427, Apr 13 high.

To read the full story

Close

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.