5 Aug 2015
USD/MXN headed for highest close ever
FXStreet (Córdoba) - The Mexican peso is falling for the third day in a row against the US dollar and is about to post the lowest all-time close.
USD/MXN correction short lived
Last Thursday after the monetary policy meeting of the central bank of Mexico (Banxico) USD/MXN dropped sharply from record highs near 16.50. On Friday, continued to slide and approached 16.00.
But then it started to move again to the upside, amid a stronger US dollar and a general decline of Latin-American currencies, led by the Brazilian real. Today greenback rose back above 16.30 in Mexico and recently printed a fresh daily high at 16.387.
Price did not hit a record high today, but it could post the highest close, leaving the doors open for a test of 16.50.
USD/MXN correction short lived
Last Thursday after the monetary policy meeting of the central bank of Mexico (Banxico) USD/MXN dropped sharply from record highs near 16.50. On Friday, continued to slide and approached 16.00.
But then it started to move again to the upside, amid a stronger US dollar and a general decline of Latin-American currencies, led by the Brazilian real. Today greenback rose back above 16.30 in Mexico and recently printed a fresh daily high at 16.387.
Price did not hit a record high today, but it could post the highest close, leaving the doors open for a test of 16.50.