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USDMXN Rises To Best Levels Of Week, TIIE Swaps Curve Shifts Higher

MEXICO
  • USDMXN rises to best levels for the week and honing in on the September 3 highs around 19.9850.
  • Largely playing catch up to the renewed dollar strength, with the Bloomberg dollar index rising to 3-week highs.
  • Initial resistance is found at the 50 and 100-day moving averages, found at 20.0124 and 20.0009 respectively. While a fair distance away key short-term resistance is unchanged at 20.4564, Aug 20 high.
  • In line with Peso weakness and higher US yields, TIIE swap rates have also risen between 7-9bps across the curve.

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