The USD/MXN pair rises to 17.35 after the Federal Reserve’s hawkish stance strengthens the US Dollar ahead of Banxico’s decision.
The Mexican Peso fell 0.34% against the US Dollar on Monday, driven by a rebound in the Greenback following the Federal Reserve’s hawkish policy signals. The USD/MXN pair climbed to 17.35 after hitting daily lows earlier in the session.
Prior to the move, the Peso had shown resilience, but Fed repricing shifted sentiment, lifting the Dollar broadly. Markets now await Banxico’s upcoming decision, which could influence further currency movements.
The immediate reaction saw the Peso weaken as traders adjusted positions amid shifting US monetary policy expectations.