USD/MXN rises to 17.14 as profit-taking follows last week’s weaker-than-expected US jobs report and focus shifts to CPI.
The Mexican Peso retreated against the US Dollar on Monday, trading at 17.14, as investors took profits after last week’s disappointing US employment figures. The pause in the Peso’s rally reflects caution ahead of Wednesday’s US inflation report, which could influence Federal Reserve policy expectations.
Prior to the jobs data, the Peso had strengthened on carry-trade demand and expectations of delayed Fed rate cuts. Consensus forecasts for Wednesday’s CPI release suggest a modest uptick in inflation, which may further shape market sentiment.
No immediate market reaction was reported beyond the modest move in USD/MXN.