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USDMXN Spikes 1% On Payrolls, Move Immediately Pared

MEXICO

USDMXN spiked up near another 1% following the payrolls report, to +1.3% on the day. 21.50 was noted, with multiple daily high prints prior to the US election in Oct/Nov 2020. The pair has since pared the gains in line with broader USD moves.


Mexico TIIE Swaps: Curve bear steeper.

  • - 1-yr +3 bps at 4.34%
  • - 2-yr +3 bps at 4.58%
  • - 5-yr +3.5 bps at 5.48%
  • - 10-yr +7.5 bps at 6.39%

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