Mexican peso under pressure. Forecast as of 03.10.2023

The USDMXN buyers are going ahead amid numerous bullish factors, including a slowdown in the global economy, persistently high US bond yields, and a worse peso performance in carry trades. Let us discuss the Forex outlook and make up a trading plan.

Monthly fundamental Mexican peso forecast

Although the peso had strengthened amid Banxico’s hawkish stance, it crashed because of the rally of the Treasury yields and the US dollar. The USDMXN has hit a four-month high. The rally is to continue amid an unfavorable foreign environment, extended speculative positioning, the approaching presidential election, and lower performance of carry trades…. Read full author’s opinion and review in blog of #LiteFinance