Mexican Peso risks ending its uptrend against USD

The Mexican Peso (MXN) steadies itself on Thursday after two days of declines against the US Dollar (USD), as traders stand back ahead of a slew of data out of Mexico.

The Mexican Peso is at risk of a reversal versus the USD following the release of the

Minutes The Mexican Peso lost more ground against the US Dollar on Wednesday, following the release of the Federal Open Market Committee meeting Minutes for the April 29-May 1 policy meeting. The summary of discussions revealed that although policymakers expected price pressures to ease eventually, they had not fallen quickly enough and therefore the current policy rate of 5.25% - 5.50% should be maintained “at least until September,” according to FXStreet.

stands for The Federal Open Market Committee that organizes 8 meetings in a year and reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth.

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