{
  "id": 10669296,
  "title": "USD/MXN: Rally nears forecast zone – Societe Generale",
  "url": "https://urgent.news/2026/09/29/usd-mxn-rally-nears-forecast-zone-societe-generale",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-29T10:35:35.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/usd-mxn-rally-nears-forecast-zone-societe-generale-202609291035"
  },
  "original_language": "en",
  "account": "Societe Generale's Latam strategy notes that the Mexican Peso (MXN) is on track for its worst month since August 2024, with losses nearing 5% against the US Dollar. This is due to higher US yields dampening risk sentiment. The USD/MXN pair has broken above 17.00 and reclaimed its 200-day moving average, now resting near the bank's revised year-end forecast of 18.00. Traders anticipate consolidation around this psychological level. The USD/MXN has recently crossed a multi-month descending trend line and reclaimed the 200-Day Moving Average. The pair is now heading towards a March peak near 18.16, which could serve as an interim hurdle. Beyond 18.16, potential objectives may be located around 18.55 and 18.80. Meanwhile, AUD/USD has turned lower, hitting nine-week lows below 0.7000, while USD/JPY consolidates around 157.50. Rising Fed rate-hike expectations and oil-driven inflation concerns continue to support the US Dollar, keeping it near a two-month high and bolstering the pair. Gold remains modestly up but is still below $4,150 and near its lowest level in eight months, warranting caution before positioning for a significant rally.",
  "summary": "Societe Generale’s Latam strategy notes the Mexican Peso (MXN) is heading for its worst month since August 2024, with losses nearing 5% versus the Dollar as higher US yields weigh on risk sentiment.",
  "key_points": [
    "Mexican Peso down 5% against USD, worst month since August 2024",
    "USD/MXN pair breaks 17.00, near 200-day moving average",
    "Traders anticipate consolidation around 18.00 forecast level"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Euro: EUR/USD bearish bias converging on support – Societe Generale",
        "url": "https://urgent.news/2026/09/29/euro-eur-usd-bearish-bias-converging-on-support-societe-generale",
        "published": "2026-09-29T11:36:49.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}