USD/MXN: Peso may be under pressure in September and October – ING

FXStreet Insights Team FXStreet

USD/MXN has reversed most of the early September gains. Economists at ING analyze the pair’s outlook.

MXN to find strong buying interest on dips

The Mexican Peso may be under pressure in September and October as Banxico unwinds its intervention forward book, but we expect it to find strong buying interest on dips.

A tough external environment could see the USD/MXN pair trade to 18.00 this month, but a good macro story favours 17 again soon.

See – USD/MXN: Defence of 16.60 can lead to a short-term bounce – SocGen

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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