The Mexican Peso fell to 18.14 against the USD as strong US economic data and elevated inflation readings from Banxico minutes pressured the currency.
The USD/MXN pair experienced a 0.91% appreciation for the dollar as robust US economic data bolstered the greenback. Simultaneously, the Mexican Peso faced downward pressure following the release of Banxico's meeting minutes, which highlighted persistent inflationary concerns that were further validated by the September inflation data.
The USD/MXN pair rose to 18.14, reflecting a 0.91% depreciation of the Mexican Peso against the US Dollar.
The Peso is primarily pressured by stronger-than-expected US economic data and concerns over rising inflation in Mexico as noted in recent Banxico minutes.
The Mexican Peso weakened against the US Dollar on Thursday, sliding 0.91% to trade at 18.14. The move follows robust US economic data and Banxico meeting minutes that highlighted persistent inflationary pressures within the Mexican economy.
The Peso weakened due to a combination of strong US economic data and Banxico minutes confirming that inflation in Mexico is trending higher.