Interested in trading the Mexican peso (MXN, USD), or want to improve your trades? Learn what times of day are preferable for getting the best returns.
The U.S. dollar consolidated a second consecutive week of gains on Friday versus its major rivals as investors weighed the possibility of the Federal Reserve announcing its plans to reduce its stimulus in the coming weeks. The greenback's gains were more pronounced against its emerging market rivals with the Mexican peso and the Taiwan dollar leading losers. Data on Thursday showed U.S. producer prices posted their largest annual increase in more than a decade in the 12 months through July.
For day traders and short-term strategies, long opportunities are seen at the 19.8000 support, while the 20.0000 area is seen as a selling area.