The Bank of Mexico reduced its main reference rates by 25 basis points as expected, to 7.50% with not an unanimous decision, with a 4 to 1 vote split, with Deputy Governor Jonathan Heath, once against voting to hold rates unchanged. developing story, more to come ...
The USD/MXN pair attracts some dip-buying near the 18.7375 area during the Asian session on Friday, and for now, seems to have snapped a two-day losing streak. Spot prices, however, lack bullish conviction and currently trade around the 18.7665 zone, up just over 0.05% for the day.
USD/MXN retreated on Wednesday as investors became worried about the Federal Reserve’s independence, as the Trump administration “doubled up” their pressure on Fed officials, as revealed by Bloomberg.