The Mexican Peso (MXN) is trading mixed against its key counterparts on Wednesday.
The Mexican Peso trades variably against its main counterparts amid data releases and changing interest rate expectations. MXN is rising against the USD as bets on a September rate cut mount; versus European currencies, the Peso lags. Stubbornly high inflation in the old continent could delay rate cuts from the BoE and ECB, supporting European FX. The Mexican Peso is trading mixed against its key counterparts on Wednesday.
1% month-over-month in June, which was in line with expectations and the previous month’s reading, although the MoM data fell compared to May’s 0.3% reading. UK core CPI showed a 3.5% rise YoY, which was in line with estimates and the same as previous, according to data from the UK Office of National Statistics released on Wednesday. The Eurozone Harmonized Index of Consumer Prices rose 2.5% YoY in June – the same as the previous month and in line with estimates, whilst monthly HICP rose 0.
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