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USD/MXN climbed to 22.29 on Friday, its highest since Monday, as the dollar rallied broadly and trimmed weekly losses. Emerging market currencies came under pressure from risk aversion, with the South African rand and Russian ruble also weakening sharply.
Traders are watching resistance near 22.40/45 and support at 22.20.
A firmer dollar against the peso raises the cost of Mexican-denominated inputs and signals risk-off conditions that can weigh on broader commodity demand and prices.
octaafrica.netJul 31, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
