Published at 13:20 (GMT) 12 Mar

USDMXN

MXN posts gains of 0.18% to 12.5425 amidst positive Latam FX and global markets. Despite the support from a dropping USD and higher oil prices, MXN is not finding traction as resistance increases as it gradually nears 12.50, especially as this is deemed an attractive buy USD signal for locals. Nevertheless, with local data due later this morning along with US market open and other US data, MXN will likely only gain more traction once a more firm outlook is set in place; again these gains should be limited given local resistance: 12.51-12.59.