USD/MXN tracks global yields lower, Banxico rate decision ahead
Thursday, June 4, 2015 2:23 PM UTC
- USD/MXN hits new day low < 15.50 as UST-Bunds reverse early losses
- Banxico expected to hold rate at 3%, growth forecast recently lowered, inflation at target
- USD/MXN support at 15.49/48 daily pivot/55-HMA, then 100-HMA at 15.4509
- Resistance seen at 15.5925 May 1 high
- IMF says USD moderately overvalued, says Fed should delay hike to H1 '16
- HF sellers, tipped above 15.50, gain advantage over RM buyers