USD/MXN: Here’s why the Mexican peso is down sharply today

The USD/MXN pair is up by more than 1.50% as traders react to a stronger dollar, low crude oil prices, and weak data from Mexico. The pair is trading at 21.4542, which is the highest level in more than a week. Weak Mexican data The USD/MXN is rising partly because of the disappointing data from Mexico. According to the statistics office, the aggregate demand for Mexican goods declined by 19.80% in the second quarter. That was a worse number than the 1.1% decline in the first quarter. As a result, the demand fell by more than 21.60% on a year