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Mexican Peso strengthens on positive market sentiment

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The Mexican Peso (MXN) trades higher against its key counterparts on Monday morning on the back of a wave of positive market sentiment.

The Mexican Peso rises as sentiment improves due to gains for tech giants and the easing of real-estate regulations in China. Microsoft and Alphabet stock prices soared at the end of last week, lifting the whole market higher. Speculation of the Chinese authorities easing property market regulations helps soothe investor fears, further supporting sentiment. The Mexican Peso trades higher against its key counterparts on Monday morning on the back of a wave of positive market sentiment.

A break below the floor could see further downside to a target at 16.50, followed by the April 9 low at 16.26. On the other side, a breakout higher would activate an upside target first at 17.67, piercing a long-term trendline and then possibly reaching a further target at around 18.15.

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