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fxSep 4, 2026, 10:00 PM

USD/MXN drops toward 16.85 as peso rally targets April 2024 low

The Mexican peso is strengthening against the US dollar, with USD/MXN testing the 16.85 area despite strong US payrolls. The move puts the pair's April 2024 low in focus.

USDMXN

The Mexican peso continues to advance against the US dollar, pushing USD/MXN toward the 16.85 level. That puts the peso near two-year highs even as the latest US Nonfarm Payrolls report came in strong.

The pair's price action suggests the jobs data had little lasting impact on the peso's direction. Instead, the peso extended its rally, keeping downward pressure on USD/MXN.

The price forecast highlights the April 2024 low as the next downside target. A sustained move below current levels would reinforce the peso's strengthening trend.

Source: FXStreet Forex News