USD/MXN: Peso pares the biggest daily slump since March ahead of Mexico inflation, US NFP – by anilpanchal7 USDMXN Inflation NFP Banxico Fed
so, the Mexican Peso pair consolidates the biggest daily gains in three months, marked the previous day, while retreating from the highest levels in a month.
Thursday’s strong US ADP Employment Change propelled the market’s bets on the Fed’s 0.25% rate hike in July to around 95%. However, However, the odds of witnessing a policy pivot have been on the spike after the US central bank paused the rate lift trajectory in July. Elsewhere, US Treasury Secretary Janet Yellen is in China to address “unfair practices” termed by the Biden administration per Reuters. The policymaker will meet China's Premier Li Qiang and former economy tsar Liu He, who is a close confidant of President Xi Jinping, the news said. Recently, China's Finance Ministry said, “We hope US to take 'concrete' actions to create favorable environment for healthy development of economic, trade ties between China and US,” per Reuters.
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