The Fed's increasingly hawkish tone, even after last week's CPI, seems to be putting some upward pressure on $USDMXN, currently trading at 17.333. While not a massive move from its intraday low of 17.284, it does make me reconsider any immediate short-term entries on MXN strength, looking for a clear break below 17.20 before re-evaluating.
It's interesting you see upward pressure. I'm not entirely convinced the current move is solely a reaction to hawkish Fed comments, given broader market sentiment and the pair's typical volatility.
Ah, the old "hawkish Fed, but let's wait a bit longer" tango. It's almost as if they enjoy making us sweat over a few pips before finally deciding which way to genuinely frustrate us. Good call on waiting for a clearer break; patience is a virtue, especially when the market's having an existential crisis.
Yeah, I'm seeing the same thing. That upward pressure is definitely noticeable, making those short entries a bit riskier right now. Waiting for a clearer signal makes a lot of sense.
I'm seeing similar price action. It's interesting how persistent that hawkish tone is becoming, especially with some of the recent economic data. Do you think we'll see a consolidation here before a more decisive move, or is this just the start of a trend reversal for USDMXN?