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Mexican peso weakens with judicial reform concerns

The Mexican peso (Symbol: USDMXN) weakened, reaching its lowest levels. This decline is largely due to a mix of political and economic factors that have eroded trader confidence in the near-term outlook of Mexico. Consulting the charts, we see the USD/MXN pair experiencing an upward trend rise during the session. This marks a continuation of the bullish momentum seen since July 2024, with the currency pair gradually moving higher from the lows earlier this year. Read more to find out why the Mexican peso weakened.

why peso weakened

Disclaimer:

Political uncertainty will likely continue to be a major source of volatility in the coming weeks, particularly if there are further developments on the constitutional reforms front. Traders should keep an eye on the progress of these reforms in the Senate, as any signs of delays or opposition could lead to sharp fluctuations in the peso’s value.

Publication date:

2024-09-16 14:51:56 (GMT)

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