USD/MXN builds cushion around 17.60 as USD Index extends sharply, Banxico policy in focus – by Sagar_Dua24 USDMXN DollarIndex InterestRate Inflation RiskAppetite
ssion. The asset is expected to remain on the tenterhooks as investors are awaiting the announcement of the interest rate decision by the Bank of Mexico .
A solid recovery of losses generated in Asia by the S&P500 futures is indicating further strengthening of the risk appetite of the market participants. The US Dollar Index has recovered sharply and is looking to recapture the immediate resistance of 103.00. It seems that investors have ignored positive commentaries from US President Joe Biden and Republican Speaker Joseph McCarthy.
Republican House of Representatives McCarthy said that each member who attended negotiations associated with raising the US debt-ceiling limit cited the approval of a higher US borrowing cap and widening budget deficit as a disaster. Investors should note that there is no alternative to approving the raise in the US debt-ceiling limit as a failure in the same could provide catastrophic effects for the United States economy. The US economy will be out of funds by June 01 and it would lead to the loss of millions of jobs and a sharp decline inOn the Mexican Peso front, investors are awaiting the release of the interest rate policy by Banxico.
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