- Mexican peso among the best performing currencies on Tuesday, regains lost ground.
- Dollar correction throughout the market favors emerging market currencies.
The USD / MXN is falling on Tuesday, ending a four-day streak of gains. The price returned below 21.30 after reaching 21.63 on Monday the highest intraday level since early November.
The The reversal of the cross occurs due to a slight rebound in global stock markets and especially due to a decline in the yields of the US Treasury bonds, which also triggered a fall in the dollar. The greenback loses ground on all fronts. The dollar index (DXY) had reached month highs above 92,560 hours ago and then fell below 92.00.
Among emerging currencies, the Mexican peso is having a notable rise, with the cocola among the best performers, along with the Turkish lira. Just as before it was the most affected, with the change in management in the very short term, it is the one that benefits the most.
The The drop in the Mexican peso had been so marked that it made the headlines of local newspapers. The USD / MXN close on Tuesday was the highest since October and it looked like a visit was coming at 22.00. For now, that scenario is not ruled out, but the comeback below 21.30 has eased upward pressure for now.
The decline in the Mexican peso, however, did not reflect bad weather in the Mexican stock market. The main index, the CPI broke 47,000 on Monday for the first time since October 2018. Since October it has risen 25%.
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
