FXStreet (Córdoba) – The Mexican peso erased losses versus the US dollar and is now trading back at the levels it had on Friday, after reaching all-time lows. USD/MXN climbed earlier to 15.86, record high, but then, retreated sharply.
Currently is trading at 15.695, at session lows after making a sharp reversal. The pair is falling for the second time out of the last six trading days. Despite the retreated is still moving with a bullish bias on a wider perspective supported by expectations of a hike rate in the US and amid risk aversion.
Mexican data
According to the Mexican Association of the auto industry, car production rose 6.7% in June while exports increased 5.3% boosted by sales to the US. Tomorrow it will be turn of consumer confidence data and on Thursdays, the inflation report. In the US the main attention will be the minutes of the latest meeting of the Fed.
(Market News Provided by FXstreet)