MUFG trade of the week: Going short USD/MXN, and short USD/SEK

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MUFG Research added 2 new trades to its TOTW portfolio. Short USD/MXN – (spot ref @ 17.400), Target @ 16.900 &amp; Stop @ 17.800 and Short USD/SEK – (spot ref @ 10.980,) Target @ 10.650 &amp; Stop @ 11.200.
</p><p>"We are recommending a new short USD/MXN trade idea. While the pair has already fallen sharply in recent days, the recent improvement in market conditions is favourable for further carry trade performance," MUFG notes.
"</p><p>We are recommending a new short USD/SEK trade idea. After failing to break above the 11.200-level in recent months, we expect the pair to correct lower towards support at the 200-day moving average at just below 10.700," MUFG adds.</p><p>For bank trade ideas, <a href="https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD" rel="nofollow" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD&amp;source=gmail&amp;ust=1699115994136000&amp;usg=AOvVaw39GhP_VgWrGz-0-xvGfBjO">check out eFX Plus</a>. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. <a href="https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD" rel="nofollow" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD&amp;source=gmail&amp;ust=1699115994136000&amp;usg=AOvVaw39GhP_VgWrGz-0-xvGfBjO">Get it here</a>.

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This article was written by Adam Button at www.forexlive.com.