FXStreet (Córdoba) – The Mexican peso is falling against the US dollar for the sixth day in a row. USD/MXN recently climbed to 15.513, hitting the strongest level since early May.
The pair then pulled back as it found resistance around 15.500 and it was trading at 15.498, up 0.75% for the day so far. A stronger greenback in the market pushed USD/MXN to the upside. The US dollar is posting gains also versus the Brazilian real, the Chilean peso and the Colombian peso.
No news from Banxico?
On Thursday the central bank of Mexico (Banxico) will meet to decide on interest rates, that are likely to remain on hold at 3.0%. “We expect Baxinco to remain on hold until later this year when it will follow the Fed in hiking rates”, wrote analysts from TD Securities.
(Market News Provided by FXstreet)