The Mexican Peso advanced against most currencies on Tuesday, particularly the US Dollar, after Federal Reserve (Fed) Chairman Jerome Powell delivered remarks perceived as dovish by market participants. This punished the Greenback, which lost some 0.55% as the USD/MXN traded at 18.25 below its opening price. Powell commented that the US economy made significant progress on inflation while adding that the risks of the Fed’s dual mandate are more balanced. His remarks came before the release of May’s JOLTs report, which came in hotter than expected. Aside from this, the Mexican currency gained some traction even though ... (full story)