OctaFX | OctaFX Forex Broker
Open trading account

USD/MXN drops to lows near 1.1361

FXStreet (Edinburgh) - The Mexican peso is now picking up pace vs. the US dollar, dragging USD/MXN to challenge session lows in the 13.600 area.

USD/MXN weaker post-data

The pair lost upside momentum after the jobless rate in the Aztec economy fell to 4.78% during October vs. 5.08% previous, and the 1st half-month inflation ticked higher to 0.74% in November from 0.5%. Spot thus continues to consolidate around the key 13.6000 handle, coming down from 2014 peaks near 13.6800.

USD/MXN key levels

The pair is now losing 0.02% at 13.6118 with the next support at 13.5975 (low Nov.21) ahead of 13.5820 (Tenkan Sen). On the flip side, a breakout of 13.6690 (high Nov.21) would expose 13.6795 (2014 high Nov.4).

Another interest rate cut from the Bank of Korea on the way? – FXStreet

FXStreet Editor and Analyst Omkar Godbole, views that post the PBoC rate cut, pressure may build on Bank of Korea to cut rates again.
Read more Previous

Turkey Manufacturing Confidence fell from previous 106.9 to 102.7 in November

Read more Next
Start livechat