USD/MXN rises to 1-week highs as US Dollar strengthens in LatAm

By FXStreet FXStreet (Córdoba) – Greenback is rising across the board on Tuesday and particularly against Latin-American currencies. USD/MXN is gaining 1.54% and peaked at 16.911, reaching the strongest level in two weeks.

The Mexican peso is ending a corrective phase that brought the USD/MXN pair from a record high at 17.30 (Aug 26 high) to 16.36 (Sep 17 low).

USD up against all

Today’s most mentioned currency in Latam was the Brazilian real that reached an all-time low versus the US dollar with USD/BRL rising above 4 but the worst performer in the region on Tuesday was the Colombian peso that lost more than 2%. Also the Chilean peso fell deeper that the real. USD/COP climbed above 3050 while the USD/CLP approached again the 700 handle.

USD/BRL is about to end around 4.04, a gain of 1.50%. Since the beginning of the year the pair rose more than 50% while USD/MXN 15%. During the last five days the real lost 4.50% of its value against the dollar.
For more information, read our latest forex news. …read more

Source:: FX Street