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- Mexican Peso dampened by a Fed official pushing back against interest rate cuts.
- The economy in the United States remains solid, according to a report by S&P Global.
- New York Fed President John Williams pushes back against rate cuts, a tailwind for USD/MXN.
- A Banxico survey shows economists expect 200 bps of rate cuts for 2024.
The Mexican Peso (MXN) would end the day with losses against the US Dollar (USD) after the central bank bonanza on both sides of the border is finished. The divergence between the US Federal Reserve (Fed) and the Bank of Mexico (Banxico) would likely keep the exotic pair trading below 18.00 for the remainder of the year and would finish the week with gains of 0.55%. Yet, in the day, the USD/MXN is trading at 17.23, gaining…
