The Mexican Peso (MXN) climbed three-quarters of a percent against the US Dollar (USD) on Thursday after the Greenback broadly softened.
The Mexican Peso reclaimed higher ground against the US Dollar on Thursday. The Greenback sold off after Retail Sales surged in the US. Markets still see a September Fed rate cut, but strong Retail Sales shed slowdown fears. The Mexican Peso climbed three-quarters of a percent against the US Dollar on Thursday after the Greenback broadly softened. US Retail Sales firmly eclipsed forecasts, causing investors to shrug off recent economic slowdown concerns.
The MXN is on pace to gain ground against the Greenback for all but one of the last seven consecutive trading days. However, USD/MXN is easing down from a very high perch after the pair ran up the charts over 23% from 2024’s lows to tap a 22-month high above 20.00 in early August. USD/MXN daily chart Mexican Peso FAQs What key factors drive the Mexican Peso? The Mexican Peso is the most traded currency among its Latin American peers.
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