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Mexican Peso Surges on Surprise Rate Hike

Surprise 50 basis point rate hike from Banxico this afternoon – widened the yield differential against the dollar, and kicked the peso higher.

More here:

Bloomberg: Mexico Stuns Markets With Half-Point Rate Hike on New Inflation Gain

Dollar loses momentum on fading geopolitical risks, Canadian dollar leaps on strong jobs
21 hours ago
Currency markets enter consolidation mode
1 day ago
Dollar recovery extends
2 days ago
RBNZ: not done yet
3 days ago
Markets rally on AI hopes, yen continues its descent
3 days ago
Japanese market jolt
4 days ago

Latest Analysis

All Commentary

Latest Analysis

Dollar loses momentum on fading geopolitical risks, Canadian dollar leaps on strong jobs
10 October, 2025
A nascent recovery in the dollar is stalling out this morning as geopolitical risks in the Middle East, Japan, and the euro area show signs of easing. The greenback is down -0.2 percent against a basket...
Currency markets enter consolidation mode
09 October, 2025
Currencies outside the US are in consolidation mode. The Japanese yen is holding near the 153 threshold as traders turn more sceptical on the Takaichi administration’s capacity for delivering fiscal and...
Dollar recovery extends
08 October, 2025
The dollar is steamrolling over its major counterparts again this morning as investors unwind exposures in other jurisdictions and pile into bets on continued gains in American equity markets. The trade-weighted...
RBNZ: not done yet
07 October, 2025
The “Go Big or Go Home” mentality was on display once again in NZ today after the RBNZ delivered an outsized 50bp interest rate cut as it attempts to jolt the stuttering economy back to life. The decision...
Markets rally on AI hopes, yen continues its descent
07 October, 2025
Investors are making up for a lack of actual intelligence on the state of the economy by betting on artificial intelligence instead. The dollar is attracting inflows, mid-curve Treasury yields are pushing...
Japanese market jolt
06 October, 2025
• Push-pull forces. US shutdown still in place. Geopolitics outside US generates some vol. EUR & JPY lose ground. AUD & NZD edge up a little.• Japan politics. Shock leadership selection jolted...
Political turmoil plays havoc with currency markets, boosts dollar
06 October, 2025
The dollar is again winning the cleanest-dirty-shirt contest this morning as mounting political turmoil in Japan and the euro area casts a pall over currency markets. The yen is down almost 2 percent and...
Currency trading ranges shrink as markets continue to ignore shutdown risks
03 October, 2025
Rumours of the dollar’s shutdown-inflicted death have been greatly exaggerated. The greenback is holding firm against its major rivals this morning despite confirmation that the US government will remain...
US shutdown vacuum
01 October, 2025
• Holding on. Markets take the latest US shutdown in stride. US equities edged up while bond yields slipped back. USD & AUD tread water.• US shutdown. No real sense of urgency to strike a deal quickly....
Another US government shutdown
30 September, 2025
• Holding firm. US equities ticked up overnight, while bond yields consolidated & USD weakened. AUD rose with AUD also outperforming on the crosses.• RBA holds. No change by RBA. Comments leant more...

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