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USD/MXN climbs further into uncharted territory

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - The US dollar rose to new record highs against the Mexican peso on Thursday. The sharp decline in Chinese markets and its currency boosted the USD against Latin American currencies, that are among the worst performers, lead by a 1.00% decline of the Colombia peso.

    USD/MXN unstoppable

    made a modest correction during the Asian session after posting an all-time close at 17.55 on Wednesday. The pair found support at 17.50 and resumed bullish rally.

    It peaked at 17.71 and then pulled back to 17.60. It was trading at 17.67, up 0.75% for the day.

    Risk aversion and the decline in crude oil prices continues to weigh on the Mexican peso. Today inflation data from Mexico showed that the CPI rose in December 0.41%, above the 0.35% expected; the annual rate declined from 2.21% to 2.13%. The 2015 annual rate at 2.13% was a record low.
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