The Mexican Peso (MXN) trades within a tight range on Wednesday as market calm descends and the post-election volatility, which saw the Peso sell-off by over 10% in its key pairs, eases.
The Mexican Peso could recover to the 17.00s according to analysts, as election risk eases. Mexico’s high interest rates are likely to be the driver as they draw foreign investors seeking returns. USD/MXN continues pulling back in the midst of a short and medium-term uptrend. The Mexican Peso trades within a tight range on Wednesday as market calm descends and the post-election volatility, which saw the Peso sell-off by over 10% in its key pairs, eases.
“All the investors that we spoke to in the last couple of days said they might look for other carry trade opportunities in different regions, or will probably try to wait until US presidential elections in the fourth quarter,” Sawacki said in an interview with Bloomberg News. Technical Analysis: USD/MXN steadies after pullback USD/MXN treads water after pulling back following the 18.99 peak reached on June 12.
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