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USDMXN Squeeze Approaches Last Week's High

MEXICO

The turn in the US Dollar and subsequent relief rally picking up some steam across markets, prompting an extension of USDMXN strength. The continued squeeze has seen the pair break through previous highs at 20.09 and 20.15 and is rapidly approaching last week's high of 20.2450.


As mentioned, headwinds from central bank rhetoric potentially aiding the move higher in USDMXN, currently up 1.25%.


Separately, Ebrard and AMLO confirming:

  • Mexico expects total of 5.2m Pfizer doses by March: Ebrard (bbg)
  • Mexico to receive 500k Pfizer vaccine doses on Feb 23: AMLO (bbg)

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