Is the USDMXN to test the 25.50 level once again?
The USDMXN was higher on a mix of “risk aversion” and a surprise rate cut by Banxico earlier today which pushed the pair out of a triangle consolidation. If the stock market continues lower the risk of further EM (Emerging market) currencies like the MXN may stay under pressure near term putting the recent highs above the 25.50 level at risk once again.
