The peso has recently made a comeback as the ultimate proxy for risk-off moves amid the COVID-19 news and developments in the oil market, Luis Hurtado from CIBC Capital Markets briefs. USD/MXN trades at 23.887. Key quotes “We are lowering our year-end forecast for the Mexican Overnight Rate to 5.5% from 5.75%.” “We expect USD/MXN to fluctuate around the 22 mark, following the highs reached after the surprise rate cut of 100bps by the Fed.” “We look for the MXN to remain under pressure, with sudden spikes in volatility as an abundance of external developments crowd headlines, while concerns about lower GDP growth prospects and credit rating revision also arise.” “Q2 20: 21.0| Q4 20: 20.6” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Kremlin: There is no price war between Russia and Saudi Arabia FX Street 2 years The peso has recently made a comeback as the ultimate proxy for risk-off moves amid the COVID-19 news and developments in the oil market, Luis Hurtado from CIBC Capital Markets briefs. USD/MXN trades at 23.887. Key quotes “We are lowering our year-end forecast for the Mexican Overnight Rate to 5.5% from 5.75%.” “We expect USD/MXN to fluctuate around the 22 mark, following the highs reached after the surprise rate cut of 100bps by the Fed.” “We look for the MXN to remain under pressure, with sudden spikes in volatility as an abundance of external developments crowd headlines, while concerns about… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
