Daily digest market movers: Mexican Peso dips amid scarce economic docket
- USD/MXN extended its rally on Banxico rate cut expectations, alongside the Greenback’s recovery.
- US Dollar Index (DXY), which tracks the buck’s performance against a basket of six peers, climbs 0.56% and exchanges hands at 100.91.
- Banxico is expected to lower borrowing costs by 175 bps toward the end of 2025, according to the swaps markets.
- Market participants had fully priced in a 100% chance of a 25 bps rate cut by the Fed. However, the odds for 50 bps of easing are 60.8%, according to the CME FedWatch Tool.
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