The Mexican Peso prolonged its rally for the second consecutive day on Thursday and hit a new weekly high of 16.90 against the Greenback following the US Federal Reserve's (Fed) decision to keep monetary policy unchanged on Wednesday.
Mexican Peso hits weekly high of 16.90 versus USD after Fed maintains current policy. The Mexican currency stays strong despite lower Mexico Business Confidence. US economic data showing a smaller trade deficit and stable job claims, failed to boost the Greenback. Powell states Fed's future policy decisions will be made “meeting by meeting”. The Mexican Peso prolonged its rally for the second consecutive day on Thursday and hit a new weekly high of 16.
100% on Wednesday. USD/MXN technical analysis: Mexican Peso regains control as USD/MXN sellers eye 100-day SMA The Mexican Peso remains strong after the USD/MXN dipped beneath the crucial 17.00 psychological level, exacerbating the Peso’s appreciation toward 16.90. However, key support levels remain on their way, to challenge lower levels last seen in 2015.
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