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Mexican peso rebounds as US Treasury yields slide

USD/MXN was last at 17.97, down 0.55%, after the pair touched a two-day low of 17.91.

Reported · Written up by our desk · Major Pairs

The Mexican peso strengthened versus the US dollar on Tuesday as the greenback weakened alongside profit-taking and lower US Treasury yields, with traders looking ahead to the minutes from the Federal Reserve’s last meeting, according to FXStreet.

FXStreet reported that USD/MXN traded at 17.97, down 0.55%, after hitting a two-day low of 17.91. The US Dollar Index was at 101.84, down 0.25%.

FXStreet added that an upbeat market tone helped support the emerging market currency, even as Mexico’s consumer confidence fell in September for the first time since May.

FXStreet also cited comments from Mexico’s finance minister, Edgar Amador, who said Mexico will prioritize borrowing in local currency at fixed rates and long maturities to reduce exposure to interest and exchange rates, noting that 79% of the debt will be denominated.

Latest closeDollar index 102.19 ▲0.3%

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