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Mexican peso strengthens as USD/MXN slips toward 18.00
USD/MXN was last around 18.08 after a peak near 18.26, with the move tied to softer US data including an ISM Services PMI drop and a firmer prices-paid subcomponent.
The Mexican peso extended a two-day advance, pushing USD/MXN lower by about 0.34% on Monday as the dollar weakened toward 18.00.
FXStreet reports the pair traded near 18.08 after peaking around 18.26, with the improvement in risk sentiment coming despite rising Middle East tensions.
The backdrop included US data showing business activity slowed in September, as the ISM Services PMI eased from 55.4 to 54.9 versus estimates of 55.
FXStreet also pointed to traders watching upcoming catalysts, including FOMC meeting minutes on Wednesday and Fed speeches, ahead of the next day’s jobless claims.