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Mexican Peso lags as Fed policy easing weighs on currency
The Mexican Peso edged lower against the US Dollar during the North American session on Wednesday, dropping over 0.80% after the Federal Open Market Committee (FOMC decided to lower borrowing costs by 50 basis points Data from Mexico was mixed, though it failed to boost the Mexican currency. At the time of writing, the USD/MXN trades at 19.26 after hitting a low of 19.06. Federal Reserve policymakers decided to lower borrowing costs as they grew confident that inflation is moving “sustainably” toward the bank’s 2% target. However, they acknowledged that the dual mandate of price stability and maximum employment ... (full story)
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- Posted: Sep 18, 2024 6:10pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 4,217
