The Mexican Peso treaded water on Tuesday following Monday’s 1.2% backslide.
Banxico recently delivered a rate cut despite an uptick in headline inflation figures.
Mexico’s central bank expects inflation bump to smooth out.
The Mexican Peso (MXN) held close to flat on Tuesday, paddling around 19.00 as Peso traders find their balance following a 1.2% drop in the MXN’s value against the Greenback. The Bank of Mexico (Banxico) recently cut interest rates by a quarter-point despite an uptick in headline inflation.
US Producer Price Index (PPI) figures released on Tuesday showed business-level inflation eased in July, softening the Greenback and giving the Peso a foothold as markets pivot to focusing on September rate cut expectations.
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