USD/MXN hovers around 16.70 during the European session on Monday, marking gains for the third consecutive day.
USD/MXN consolidates as risk aversion prevails ahead of policy decisions by the US Fed. The correction in US Treasury yields could weaken the US Dollar. Banxico is expected to reduce the 25 bps interest rate on Thursday. USD/MXN hovers around16.70 during the European session on Monday, marking gains for the third consecutive day. The US Dollar benefited from market caution ahead of the US Federal Reserve's interest rate decision on Wednesday.
9% over twelve months, surpassing December's stagnant performance. Thiscould bolster the hawkish stance of the Bank of Mexico . In Banxico's quarterly report, officials acknowledged progress in inflation control and emphasized the importance of avoiding premature interest rate cuts. Governor Victoria Rodriguez Ceja has advocated for a gradual approach to adjustments, while Deputy Governor Jonathan Heath has cautioned against the risks associated with premature rate cuts.
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