The Mexican Peso (MXN) has stalled after rallying against most counterparts over recent sessions.
The Mexican Peso pauses in its recovery in most major pairs. Risk appetite continues to be positive, however, supporting a bullish outlook for the Peso. Analysts at Rabobank expect the Peso to appreciate as long as volatility remains subdued. The Mexican Peso has stalled after rallying against most counterparts over recent sessions. The Peso had been supported by a rise in risk appetite from easing geopolitical tensions and strong US tech company earnings.
“We have changed our Banxico forecast to reflect a pause at the May 9 meeting. This follows Deputy Governor Jonathan Heath’s interview on April 20, when he noted that he is ‘leaning towards a pause in May, and we can see how data evolves by June,’ which he highlighted is ‘likely’ to be a unanimous decision,” says Rabobank.
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