- USD/MXN: 17.00 in reach for the first time since December 2005 – SocGen
Market news
20 June 2023
USD/MXN: 17.00 in reach for the first time since December 2005 – SocGen
The Mexican Peso rallied for fourth straight week. Economists at Société Générale analyze USD/MXN outlook.
Dovish pivot by Banxico?
The Fed pause was another shot in the arm for the Peso and puts 17.00/USD in reach for the first time since December 2015.
A dovish hold by the Banxico this Thursday may put the brakes on the MXN rally. We expect no change in the key overnight rate at 11.25% for second straight month. The tone in the statement could become less hawkish after headline inflation declined below 6%.
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