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Market Update: Mexican Peso Remains Under Pressure
The Mexican peso traded in a range around 20.0 against the greenback in mid-July, pressured by lower oil prices and the advancing pandemic in the country. Health authorities struggled to curb the advance of the new pandemic wave, reflected in the highest weekly moving average of infections since mid-February and a surge in COVID-19 hospitalizations, namely in the capital Mexico City where admissions went up 75% in 3 weeks. [/s2If]
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