23 Jul 2015
USD/MXN continues to rise above 16.00 to fresh all-time highs
FXStreet (Córdoba) - Greenback extended weekly gains versus the Mexican peso on Thursday and climbed to new record highs. USD/MXN move to the downside during most of the day but rebounded at 16.03 and jumped to the upside.
After testing during three hours, yesterday’s highs, broke above and printed a new high at 16.175. Currently trades at 16.158, up 0.40% for the day. The US dollar holds a positive outlook against Latam currencies on the back of expectations of a rate hike by the Federal Reserve and amid a decline in growth prospects in the region. Today the worst performer is the Brazilian real, that losses almost 3% against the US dollar.
Inflation eases in Mexico
The Mexican statistics agency (INEGI) informed that the annual inflation rate in the 12 months through mid-July fell from 2.87% to 2.76%, a record low. From the level it had a year ago, the Mexican peso is 25% lower against the US dollar, but so far, the depreciation of the exchange rate did not generate inflationary pressures.
After testing during three hours, yesterday’s highs, broke above and printed a new high at 16.175. Currently trades at 16.158, up 0.40% for the day. The US dollar holds a positive outlook against Latam currencies on the back of expectations of a rate hike by the Federal Reserve and amid a decline in growth prospects in the region. Today the worst performer is the Brazilian real, that losses almost 3% against the US dollar.
Inflation eases in Mexico
The Mexican statistics agency (INEGI) informed that the annual inflation rate in the 12 months through mid-July fell from 2.87% to 2.76%, a record low. From the level it had a year ago, the Mexican peso is 25% lower against the US dollar, but so far, the depreciation of the exchange rate did not generate inflationary pressures.