The Mexican Peso (MXN) drifts higher in its key pairs on Thursday although it is gaining more strength against the US Dollar (USD) due to a recent run of poor US economic data, than its European counterparts.
The Mexican Peso drifts higher after comments from Banxico Deputy Governor Heath suggesting interest rates should remain elevated. EUR/MXN and GBP/MXN trade flatter as European political risk diminishes, supporting the Euro and Pound. USD/MXN pushes lower in a step-decline towards 18.00. The Mexican Peso drifts higher in its key pairs on Thursday although it is gaining more strength against the US Dollar due to a recent run of poor US economic data, than its European counterparts.
French-bund bond spreads narrow as election risk recedes The Mexican Peso is trading in a range against the Euro, which continues to recover as risks subside that the far-right French National Rally party will gain an overall majority in the second round of the French elections on Sunday. This is reflected in the spread between French and German yields, which narrowed further on Wednesday.
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