The Mexican peso fell to its lowest level since December 2022, driven by political uncertainties surrounding constitutional reforms and growing economic challenges. Investor confidence wavers as concerns over judicial independence and weak economic data persist. -vtmarkets.com
Emerging Asian currencies and stocks experienced gains on Wednesday as traders awaited the US Federal Reserve’s policy decision. The South Korean won and the Thai baht led the way among currencies, rising by 0.6% and 0.5%, respectively.
The dollar index (DXY) last traded at 104.210 against a basket of major currencies. Despite the holiday in Japan halting cash U.S. Treasuries trading, the 10-year Treasury futures trended lower.
The Mexican peso rebounded against a weaker US dollar and the cautious stance on inflation by Banxico. Read more about the market implications and forecasts.
Key points: The Mexican peso weakens to 18.4 per USD, nearing 15-month low of 18.75. Banxico maintains interest rates at 11% with rising inflation. Unemployment drops to 2.6%, trade surplus at $1.99 billion. The Mexican peso weakened to 18.4 per …
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