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USDMXN Rises Back Above 19.0 Level Amidst Equity Vol

MEXICO
  • USDMXN has risen back above the 19.00 level in recent trade amidst the increase in equity market volatility this afternoon and rebound in the yen, noted earlier. The pair is currently trading around 19.06, up 1.2% on the day.
    • As mentioned previously, a bullish theme in USDMXN remains intact following recent gains and a breach of the 20.00 handle. Support to watch lies at 18.716, the 20-day EMA.
    • Meanwhile, President-elect Sheinbaum is due to name more members of her cabinet today. She is yet to appoint the new heads of Pemex and CFE.

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