Mexican Peso Futures Market News and Commentary
The dollar index (DXY00) on Friday fell -0.021 (-0.02%). EUR/USD (^EURUSD) rose +0.0006 (+0.05%). USD/JPY (^USDJPY) rose +0.57 (+0.50%). The dollar index on Friday posted modest losses. The main bearish factor for the dollar on Friday was the rally in the S&P 500 to a 3-week high, which reduced the liquidity demand for the dollar. However, the dollar found support Friday from higher T-note yields, which strengthened the dollar’s interest rate differentials.
EUR/USD (^EURUSD) on Friday moved slightly higher. EUR/USD was undercut by comments from ECB Governing Council member Villeroy who said price pressures in the Eurozone should be mostly transitory, which was dovish for Fed policy. EUR/USD was also undercut after Friday’s economic data showed Eurozone Sep new car registrations fell -23.1% y/y, the third straight monthly decline.
USD/JPY (^USDJPY) on Friday extended this week’s rally up to a 3-year high. The yen tumbled Friday on a report that said the BOJ at its... Read more