Mexican Peso Gains Momentum

The Mexican Peso has strengthened against the US Dollar, driven by a combination of factors including a weaker US Dollar, improved market sentiment, and positive

The Mexican Peso has strengthened against the US Dollar, driven by a combination of factors including a weaker US Dollar, improved market sentiment, and positive economic data.

The US Dollar has weakened following the release of softer-than-expected US PCE inflation data, which has reduced expectations for aggressive Federal Reserve interest rate cuts. The Mexican Peso has also benefited from a stronger-than-expected GDP growth rate and positive developments in international trade.

USD/MXN Technical Outlook

The USD/MXN pair has shown a bullish trend, with the potential for further gains. The pair has broken above a key resistance level, indicating a continuation of the upward trend. A break above the 20.60 level could signal further gains, with potential targets at the channel highs.

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