Mexican Peso Weakens Ahead of Fed Decision Amid Trade Uncertainty

The Mexican peso is showing signs of short-term weakness against the US dollar, with USD/MXN up over 0.5% during today's session.

This move reflects strength in the US dollar and could be influenced by the upcoming Federal Reserve decision.

Market expectations suggest a 66% probability that the Fed will keep interest rates unchanged, but there is also a 33% chance of a rate hike.

Despite this uncertainty, USD/MXN remains within a broad long-term sideways range, with key levels at 17.67, 17.41, and 17.10.