The Mexican Peso rises as market sentiment lifts following the Federal Reserve meeting on Wednesday.
Despite acknowledging inflation remained sticky, the Fed’s Chair Jerome Powell described the need for higher interest rates as “unlikely”.
The Fed’s decision to reduce its Treasury holdings at a slower pace was taken by markets as a mildly dovish move, possibly weakening the USD.
The Mexican Peso (MXN) trades higher in its key pairs on Thursday as market sentiment gets a lift from a combination of factors, including the US Federal Reserve’s (Fed) decision to maintain an easing bias at its policy meeting on Wednesday, and Crude Oil prices hovering close to seven-week lows.
USD/MXN is trading at 16.93, EUR/MXN at 18.16 and GBP/MXN at 21.24, at the time of publication during the European session.
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