- USD/MXN reached a daily high above 18.0000 before tumbling toward the 17.90s area.
- Fed’s Cook expects inflation to slow down as measured by headline inflation, but core PCE is foreseen to stay sticky.
- USD/MXN Price AnalysisL Downward pressured below 18.00; otherwise, expect upside towards the 20-day EMA.
The USD/MXN loses its appeal and drops below 18.0000, even though buyers eyed higher ceilings at around the 20-day EMA. A risk-off impulse keeps the emerging market currency fluctuating, although the US Dollar (USD) weakened. At the time of writing, the USD/MXN is exchanging hands at 17.9762.
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