USD/MXN falls to 17.32 as risk appetite boosts demand for the peso before this week’s central bank meeting.
The Mexican peso strengthened against the US dollar on Monday, trading at 17.32, as improved risk sentiment increased the appeal of the currency for carry trades. Investors are positioning ahead of the Bank of Mexico’s monetary policy decision later this week.
The move contrasts with broader dollar strength, reflecting expectations that Banxico may maintain a cautious stance amid global economic uncertainty. The peso’s resilience has been supported by relatively high interest rates compared to other emerging-market currencies.
Market focus remains on the central bank’s upcoming announcement, with traders assessing potential signals on future rate adjustments or policy shifts.