USD:MXN rates soar, currently over 20.6 MXN to 1 USD. The USD strengthens broadly while crypto crashes and Brent crude soars past 100 USD as Russia invades the Ukraine.
Short-term USD:MXN forecast: a flight to safety
The US Dollar strengthened against the MX Peso by 2.3% over the last 24 hours and continues to climb. The USD:MXN rate stands at 20.62 MXN : 1 USD as of this writing.
Notably, Brent crude spiked above 100 USD, driven by the Russian invasion of the Ukraine. Crypto crashed, with Bitcoin down over 7% in the last 24 hours.
Expect major volatility in all financial markets as they react to the unfolding situation in the Ukraine.
Best regards,
Will - bridge21.com
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