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USDMXN Returns To Familiar 21.00 Mark Post-Fed, Banxico In Focus

MEXICO
  • The dollar is off its worst levels following the strong reversal lower after the release of the FOMC decision/statement late on Wednesday. The focus for developed markets will be the upcoming ECB statement and press conference.
  • The Mexican peso recovered well with a supportive combination of a lower greenback and boosted equity indices. USDMXN has returned to it’s prior comfort spot of the 21.00 mark.
  • Banxico decision later today where analysts remain divided between whether the board will stick to a gradual approach of 25bp rate hikes or accelerate the pace to 50bp.

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