Currency: What's Happening With the US Dollar & Mexican Peso?
The Mexican peso has plunged to a new yearly low against the US dollar in the currency markets this week. The USD/MXN pair shows the currency nosediving 1.50% boosting the greenback’s prospects in the forex markets. The peso is now trading at 20.04 and is attracting bullish sentiments in the charts. Also Read: De-Dollarization: 20 Countries Ready to Ditch the US Dollar The DXY index, which measures the performance of the US dollar shows the greenback 103.59. Despite it being in the red, the peso failed to outperform the USD and traded below the greenback. The US dollar surged as Treasury yields jumped early this week giving it a boost in the currency markets. Remittance in the Mexican peso experienced the largest drop in 11 years and is down 4.6% compared to last year. The depreciation of the Mexican peso could continue into the election cycle as uncertainty prevails in the broader market. The busy schedule on the American side is making the currency rise above the adversities. Also Re