The Mexican Peso (MXN) makes a marginal recovery on Monday after losing over 8.0% in the previous week in its most heavily traded pairs.
The Mexican Peso fell over 8.0% in its key pairs last week as a result of election volatility. The Peso further weakens after a speech by outgoing president Obrador argues radical reforms are required to cure endemic corruption. USD/MXN keeps marching higher and now trades well above 18.00. The Mexican Peso makes a marginal recovery on Monday after losing over 8.0% in the previous week in its most heavily traded pairs.
A break above that level will probably see it go even higher, with the next target potentially situated at 19.22 . The long-term trend is probably still bearish, suggesting moderate background risks continue. Mexican Peso FAQs What key factors drive the Mexican Peso? The Mexican Peso is the most traded currency among its Latin American peers.
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