USD/MXN eases to near 18.10 ahead of Banxico policy and US PCE Price Index – by Sagar_Dua24 USDMXN DollarIndex Banxico Fed Inflation
. The USD Index is juggling near the previous day's high around 102.77. The mighty USD is gathering strength to deliver a break above the same in hopes that the Federal Reserve will hike rates one more time this year.of the market participants. Receding fears of further casualty in the US banking system have weighed on demand for US government bonds. Eventually, the 10-year US Treasury yields jumped to 3.58%.
The National Retail Federation said on Wednesday that fears of a recession and tremors in the banking industry cast a shadow over a recovery in consumer spending, as reported by Reuters. The NRF is expecting a growth in retail demand in the 4-6% range, lower than expansion by 7% recorded in 2022. Therefore, chances of a better-than-anticipated core PCE are less likely.
On the Mexican Peso front, investors are awaiting the interest rate decision by the Bank of Mexico . As per the consensus, Banxico will hike interest
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