Forex
globalreutersJuly 25, 20241 Mins read
Mexican Peso weakens as investors unwind the carry trade
globalreutersJuly 25, 20241 Mins read The Mexican Peso (MXN) falls to a roughly four-week low on Thursday in its most traded pairs as investors rotate out of the carry trade, which favors currencies where interest rates are high, such as in Mexico (11.00%), at the expense of currencies with lower interest rates like the Japanese Yen (JPY), where the Bank of Japan (BoJ) has set base rates at 0.10%, according to analysts at ING Bank.
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