- The Mexican Peso edges higher in most pairs on an upbeat market mood.
- Investors are relieved the Fed did not suddenly change course and threatened to raise interest rates at its May meeting.
- Mexico S&P Global Manufacturing PMI data eases lower but remains in expansionary territory.
The Mexican Peso (MXN) edges higher in most pairs on Friday as investor risk appetite remains strong, supporting commodity-related currencies and risk-sensitive FX such as the Mexican Peso.
Asian markets tracked Wall Street higher overnight as fears melted away following the slightly dovish outcome of Wednesday’s Federal Reserve (Fed) meeting. Investors had started to fear the Fed might suddenly change its course and start raising interest rates amid persistent inflation.
USD/MXN is trading at 16.96, EUR/MXN at 18.22 and GBP/MXN at 21.28, at the time of publication during the European session
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