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MEXICO: USDMXN Returns to Prior Breakout Amid Broader Dollar Weakness

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • The WaPo article has bolstered the existing direction of travel for the greenback on Monday, with the USD index extending session lows and briefly bringing the DXY’s pullback to around 1.5% from last week’s highs.
  • Ongoing greenback pressure and the Mexican peso’s sensitivity to tariff related headlines has prompted USDMXN to extend session declines to 1.1%, with the pair returning to late December breakout level around 20.40. Notably, USDMXN is now also testing below the 20-day EMA.
  • Stronger support is at the 50-day average, intersecting today at 20.2311 and a break below here would likely target a deeper correction to the post-election lows of 19.7618.
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  • The WaPo article has bolstered the existing direction of travel for the greenback on Monday, with the USD index extending session lows and briefly bringing the DXY’s pullback to around 1.5% from last week’s highs.
  • Ongoing greenback pressure and the Mexican peso’s sensitivity to tariff related headlines has prompted USDMXN to extend session declines to 1.1%, with the pair returning to late December breakout level around 20.40. Notably, USDMXN is now also testing below the 20-day EMA.
  • Stronger support is at the 50-day average, intersecting today at 20.2311 and a break below here would likely target a deeper correction to the post-election lows of 19.7618.