USDMXN Markup
The news of Omnicorn variant emerging in South Africa caused many countries close their borders and other African travel, which has impacted the price of Crude Oil on fears of lesser demand, of which Mexico is a major exporter, leading to the peso to to a new 1-year high price.
Unless it is quickly discovered that the omicron variant should not be as problematic as feared, it is hard to see how Crude Oil and henceforth the Mexican peso will not make a further sharp fall over the course of this week.
I could see rejection on the .382 or .5 then push to the downside
Unless it is quickly discovered that the omicron variant should not be as problematic as feared, it is hard to see how Crude Oil and henceforth the Mexican peso will not make a further sharp fall over the course of this week.
I could see rejection on the .382 or .5 then push to the downside
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