• The Mexican Peso rallies after the release of inflation data ahead of the Banxico meeting. 
• The Banxico is likely to keep interest rates unchanged at 11%, supporting the MXN. 
• The short-term trend has reversed for USD/MXN and is probably bearish now, though RSI is oversold. 

The Mexican Peso (MXN) comes off its highs on Tuesday, as traders take profit after a concerted period of strengthening, which has seen it reverse almost half of the post-election slide in its most traded pairs.

At the time of writing, one US Dollar (USD) buys 17.98 Mexican Pesos, EUR/MXN is trading at 19.29 and GBP/MXN at 22.83.