FXStreet (Córdoba) – The mexican peso lost ground against the US dollar on Friday, for the third day in a row. USD/MXN rose to 15.437, hitting the highest level since early May and then pulled back toward 15.40, where is about to end the week.
A stronger greenback pushed the pair to the upside. Most of Latin American currencies dropped versus the US dollar particularly the brazilian real that lost almost 3%, while the mexican peso retreated less than 1%.
USD/MXN rally continues
The pair has risen in all except two days since May 18. The pair bottomed on May 15 at 14.975 and then started to rally. It is about to post the second weekly gain in a row and if it manages to hold above 15.400, attention would turn to 15.50.
(Market News Provided by FXstreet)