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Mexican peso slips versus dollar as Iran sanctions weigh on USD/MXN

USD/MXN trades above 16.95, supported by Mexico’s August inflation rise and weaker-than-expected Q2 GDP.

Reported · Written up by our desk · Major Pairs

The Mexican peso fell against the US dollar on Monday, with USD/MXN gaining more than 0.25% to around 16.96, according to FXStreet.

Mexico’s first 15 days of August data showed headline inflation rising from 3.1% to 3.26%, while underlying inflation eased slightly from 3.95% to 3.94%. At the same time, Mexico’s Q2 GDP grew 1.4%, improving from a -0.3% contraction in Q1 2026, but still missed expectations for 1.5%.

FXStreet said US sanctions on Iran, announced by the Treasury Department, helped cap any peso gains. The outlet also noted US Treasury Secretary Scott Bessent described the measures as “unprecedented,” targeting entities linked to Iran and sectors including digital assets, technology, gold, aviation, and shipping.

Traders also looked ahead to upcoming US growth, inflation, and jobs data, plus Fed Chair Kevin Warsh’s speech at the Jackson Hole Symposium. FXStreet added that technical levels pointed to resistance near the 17.33 area and support further down near 15.51.

Latest closeGold $4,432.00 ▲1.6%

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