US Dollar vs. Mexican Peso
The U.S. Dollar against the Mexican Peso is represented in this currency quote, as the price of a singular USD (base currency) is quoted in MXN (counter currency) terms. Mexico's association with NAFTA (North American Free Trade Agreement), as well as its geographical closeness to the US, make it very reactive to economic developments in the biggest consumer markets in the world. As a currency that is generally higher-yielding, the Peso can be alluring when optimistic investors prioritize returns over safety. This makes USD/MXN susceptible to fluctuations in market sentiment trends that are broad-based.