USD/MXN plunged amidst hawkish Banxico’s remarks, mixed US economic data – by christianborjon USDMXN Currencies EmergingMarkets Mexico
registering its biggest daily loss since May 3. The USD/MXN is trading at 17.5444, down 0.78%.
Wall Street began June on the front foot, with gains spurred by the AI frenzy. The financial markets narrative shifted towards the economy after the US debt-ceiling issue was solved, though pending approval by the US Senate. Further labor data showed that private hiring crushed April’s data, as demonstrated by the ADP Report, indicating that the economy added 278K jobs, surpassing 170k estimates, but lagged April’s 291K. This underlines a tight labor market.
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