USD/MXN falls to 17.24 as softer US employment figures weigh on the dollar ahead of Nonfarm Payrolls.
The Mexican Peso rose for a ninth straight session, trading at 17.24 against the US dollar, as the greenback retreated on weaker-than-expected US jobs data. The move extends the peso’s rally ahead of Friday’s Nonfarm Payrolls report, a key indicator for Federal Reserve policy expectations.
Prior to this streak, the peso had struggled against the dollar amid broader emerging-market volatility. The current gain marks its longest winning run in three months, reflecting improved risk sentiment and dollar softness. Analysts note the jobs data may signal cooling labor demand, potentially easing pressure on the Fed to maintain aggressive rate hikes.
Markets await further cues from upcoming US economic releases, with the peso’s momentum hinging on Nonfarm Payrolls and inflation trends.