After falling below 17.00, the dollar-peso briefly dipped below 16.90, creating a correction phase, but buying returned. Position adjustments are under way ahead of Jackson Hole.
After the dollar-peso broke below the key 17.00 level, it recently dipped below 16.90 at one point, but some buying has since returned. Market participants are said to be focused on position adjustments ahead of the event.
Against the yen, the pair has generally traded around ¥9.40, with the peso strengthening and the yen weakening. However, views remain cautious toward a test of the key ¥9.50 level.
USDMXN is currently shown at 16.9507 and MXNJPY at 9.4007, and the market could become active again depending on trading conditions. Future moves will depend on US factors and volatility in global markets.