Risk aversion bolstered the USD/MXN toward new weekly highs above $18.30.
USD/MXN Price Analysis: The daily close above the 20-day EMA opened the door toward $18.60.
The Mexican Peso (MXN) is under pressure on Thursday; after reaching new 5-year lows at 17.8967, the USD/MXN has risen back towards the 18.0800 area. At around the Wall Street close, risk aversion pushed US equities lower, while the Mexican Peso depreciated the most since February 6, 2023. At the time of writing, the USD/MXN is gaining 2.07%, or 3700 pips, at 18.3323.
Also read: USD/MXN advances above the 18.00 figure as traders rush to safety
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