Bearish
USD/MXN breaches 17.00, nearing Societe Generale's year-end target of 18.00.
The Mexican Peso has weakened against the US Dollar, with USD/MXN surpassing the 17.00 mark and approaching Societe Generale's revised year-end target of 18.00. This decline is attributed to higher US yields impacting risk sentiment and diminishing the Peso's carry appeal.
Key points
- USD/MXN surpasses 17.00, approaching 18.00 target.
- Societe Generale forecasts Peso's worst month since August 2024.
- Higher US yields reduce Peso's carry trade attractiveness.
Sources
AI-generated from public news sources. Not financial advice.
