Mexican central bank lowers benchmark rate by 50 basis points, as expected

  • The decision from the Banxico
USDMXN
USD/MXN daily
  • Decision was not unanimous
  • One vote was for unchanged
  • Looking ahead, the board will assess further adjustments to the reference rate

Previously the guidance had been more explicit about considering cuts going forward, so it looks like they're going to slow cuts.

USD/MXN shorts are looking good as the market re-assesses the trade war.

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