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USD/MXN hits 18.00, new record high

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The Mexican peso is falling for the sixth trading day in a row against the US dollar. USD/MXN reached the 18.00 level for the first time ever. The pair pulled back afterwards but continues to trade near that area.

    USD/MXN retreated but rebounded back to 18

    The pair opened the day with a bullish bias and rose to 17.99 amid risk aversion. Then, the recovery of the Chinese currency pushed USD/MXN to the downside. It bottomed at 17.78.

    After the beginning of the American session, the Peso weakened again affected by a decline in crude oil prices and send USD/MXN to 18.00. Near the end of the session it was trading at 17.96. So far during 2016 it has risen 4.55%.
    For more information, read our latest forex news.

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