Mexican peso stays under pressure as Banxico lags the Fed, per ING
FROM THE WIRE · FXSTREET.COM
Chris Turner at ING highlights that the Mexican Peso has been the weakest emerging market currency since early September, hurt by dovish Banxico rhetoric and narrowing policy spreads versus the Federal Reserve. Without a hawkish surprise at the 5 November meeting, he expects MXN…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishDovish Banxico rhetoric and narrowing rate spreads versus the Fed pressure the Mexican peso lower.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01The Mexican peso has been the weakest emerging market currency since early September.
- 02ING does not expect a hawkish surprise at the November 5 meeting.
- 03The analyst sees USD/MXN heading toward the 19.00–19.10 area in coming weeks.