USD/MXN fluctuates around $18.50s with a downward trend following mixed US data

The USD/MXN currency pair has been fluctuating around the $18.50s in recent weeks, with a downward trend following mixed data from the United States.

The US dollar has been under pressure due to concerns about the country’s economic growth and political uncertainty. The Federal Reserve has also been cautious about raising interest rates, which has put further pressure on the dollar.

Meanwhile, the Mexican peso has been supported by strong economic fundamentals, including solid growth and low inflation. The country’s central bank has also been raising interest rates to combat inflation, which has made the peso more attractive to investors.

The recent mixed data from the US has added to the pressure on the dollar. While the economy has been growing at a steady pace, there have been concerns about slowing job growth and weak wage growth. In addition, the ongoing trade tensions between the US and China have raised concerns about the impact on global growth.

As a result, investors have been turning to other currencies, including the Mexican peso, which has been seen as a safer bet. The peso has also been supported by rising oil prices, which have boosted Mexico’s economy.

However, there are still risks to the peso, including political uncertainty ahead of Mexico’s presidential election in July. The outcome of the election could have a significant impact on the country’s economy and currency.

Overall, the USD/MXN currency pair is likely to continue fluctuating in the near term, with a downward trend due to the mixed data from the US. However, investors should keep an eye on political developments in Mexico and any changes in global economic conditions that could impact the peso.

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• Source: Plato Data Intelligence: PlatoData