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Peso weakens as USD/MXN edges higher amid Middle East jitters
USD/MXN was around 17.06 after bouncing from 17.02 lows, while Mexico traders looked ahead to Banxico minutes and retail sales.
FXStreet reports the Mexican peso slid modestly on Tuesday, easing about 0.16% versus the US dollar as investors weighed Middle East tensions and awaited the release of the Federal Reserve’s last meeting minutes.
The outlet said USD/MXN traded near 17.06 after a rebound from daily lows around 17.02, with the Greenback slightly higher on the day and the US Dollar Index (DXY) around 99.65.
In the US, mixed data included a drop in July Housing Starts, which fell 12.4% month over month to 1.239 million from 1.415 million in June, a move tied to higher mortgage rates and elevated prices.
FXStreet also noted that Mexico’s calendar is light, with traders focusing on Banxico meeting minutes on Thursday and retail sales on Friday, August 21, while technical levels suggest the broader downside trend may persist if USD/MXN stays below resistance near the longer-term moving average cluster around 17.36.
Latest closeDollar index 99.64 ▼0.3%