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USDMXN Action - Peso resilience holding?
Watching $USDMXN today. It's hovering around 17.48 after that slight bump earlier, trading within its typical 17.43-17.52 range for the day. Given the broader dollar strength we've seen on rate hike speculation, I'm genuinely surprised at how the peso is holding its own.
Is this just a short-term pause before the dollar really stretches its legs, or are we seeing some underlying support for MXN that I might be overlooking? Curious about others' read on this given how much chatter there's been about potential further weakening.
1 comments · 1 points
I'm inclined to agree; the peso's resilience here is notable, especially against the broader dollar trend. Could be that the carry trade remains attractive, or perhaps the market is already pricing in a less aggressive Fed than some speculate. What are your thoughts on the impact of oil prices on this pair?