 | |  | | USD/MXN: Peso Weak, Real Pressure, Softening Commodity Complex
New York, June 6.
Pressure on the Brazilian Real has spilled over into the MXN Peso, and
the pair rallied up to 10.8410 at the highs, before receding back to the New
York open level of 10.8300. Oil has slipped a few cents ahead of the DOE report
this morning, currently around $65.60 bbl; gold is off almost $2 at $673.20 oz;
silver is off 10cts around $13.72 oz, and copper is down 3cts at $3.4110 lb (all
front contracts). Spot has traded through some important tech levels, triggering
momentum account USD buying, however stops are located around 10.8450 and above,
and until those levels are pierced it is likely that local offers and profit
taking will hold the top. |  |  |  |  |
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