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2026.02.2017:59:43UTC+00Mexican Peso Hovers Around mid-2024 Highs

The Mexican peso strengthened beyond 17.15 per US dollar, reaching its highest level since mid-2024 as investors welcomed a US Supreme Court ruling that struck down President Trump’s global tariffs. By invalidating broad emergency duties, the decision removed a key headwind for Mexico’s export-oriented economy and unleashed a sharp relief rally in the currency.

This legal setback for the White House overshadowed a mixed US macroeconomic backdrop, where subdued Q4 GDP growth of 1.4% contrasted with stubborn core PCE inflation of 3%, keeping the Federal Reserve’s interest-rate outlook uncertain. Despite persistent geopolitical tensions in the Middle East, the peso drew support from improved trade sentiment and reduced perceived risks of supply chain disruptions.

Attention now turns to Banxico, as traders evaluate whether Mexico’s interest-rate advantage will continue to underpin the peso while global trade uncertainty eases in the wake of the landmark court ruling. The currency is currently poised for its strongest weekly performance in months.

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