USD/MXN hits 18.00, new record high

FXStreet (Córdoba) - The Mexican peso is falling for the sixth trading day in a row against the US dollar. USD/MXN reached the 18.00 level for the first time ever. The pair pulled back afterwards but continues to trade near that area.

USD/MXN retreated but rebounded back to 18

The pair opened the day with a bullish bias and rose to 17.99 amid risk aversion. Then, the recovery of the Chinese currency pushed USD/MXN to the downside. It bottomed at 17.78.

After the beginning of the American session, the Peso weakened again affected by a decline in crude oil prices and send USD/MXN to 18.00. Near the end of the session it was trading at 17.96. So far during 2016 it has risen 4.55%.