USD/MXN drops despite hawkish remarks from Fed Powell; Banxico decision in focus – by christianborjon USDMXN Currencies EmergingMarkets Banxico
Mexican Peso advances against the US Dollar despite hawkish comments from Federal Reserve Chair Jerome Powell.
Fed Chair Powell’s testimony suggests at least two more rate hikes of 25 bps, though market participants anticipate only one. Meanwhile, Fed officials’ opinions began to diverge. Chicago and Atlanta Fed Presidents Goolsbee and Bostic adopted a dovish stance, with the former suggesting the US central bank is in wait-and-see mode, contrary to last Friday’s opinions, opening with Waller and Barkin, welcoming additional tightening., which measures the buck’s value against a basket of currencies, stumbles 0.44%, down at 102.088.
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