April 25, 2024 13:20 GMT
USDMXN Trades 2% Above Session Lows As US Yields Spike, Equities Slump
MXN
- The Mexican peso’s recent sensitivity to external developments is once again being highlighted on Thursday as the sharp move higher for US yields in the aftermath of the US data weighs substantially on the peso.
- As such, USDMXN (+1.40%) has printed a fresh session high of 17.3885 in recent trade, an impressive two percent above the post data lows of 17.0218. Today’s high closely matches with 17.3860, the Jan 17 high, which is an important reversal trigger and a break, if seen, would be a bullish technical development.
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