The Mexican Peso (MXN) continues drifting higher in its most traded pairs on Friday, with gains particularly marked against the US Dollar (USD), which has weakened after a run of poor US economic data.
The Mexican Peso continues rallying against the US Dollar and makes more muted gains against European counterparts. The Greenback is losing ground after a run of weak US economic data. In Europe, political risk eases, taking pressure off the Euro and the Pound. The Mexican Peso continues drifting higher in its most traded pairs on Friday, with gains particularly marked against the US Dollar , which has weakened after a run of poor US economic data.
Across the channel, meanwhile, the Pound Sterling has been lifted slightly after the Labour Party’s landslide victory in Thursday’s general election. Some analysts have cited a more stable political climate, as well as stronger prospects for growth, as key drivers for expecting some post-election strengthening in GBP. Technical Analysis: USD/MXN continues sliding to key low USD/MXN continues edging lower towards the key June 24 swing low at 17.87.
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