USD/MXN attempts to extend gains on the third successive day, trading higher around 17.5580 during the Asian session on Wednesday. The pair experience
Additionally, stronger economic data from the United States bolsters the prevailing strength of the US Dollar .
Additionally, the Federal Reserve is expected to raise policy rates through the end of the year as the US economy demonstrates resilience. This, in turn, boosts the US Treasury yields, which reinforces the strength of the US Dollar . Price Index, the Fed's preferred measure of consumer inflation, is due on Friday. The annual rate is anticipated to reduce from 4.2% to 3.9%.President Neel Kashkari expressed the view that another rate hike is necessary, followed by the need to maintain rates at that level. He also mentioned the possibility of achieving a soft landing for the economy, which implies a gradual slowdown without causing a recession.
On the other side, the recent data from Mexico showed that 12-month Inflation for August increased by 4.64% compared to the previous rate of 4.79%, surpassing the expected 4.61% rate. While Headline Inflation rose by 0.55%, higher than the expected 0.52% and 0.48%.
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