bridge21 weekly update

USD:MXN rate rallies above 20:1 before correcting to 19.9:1 levels. Bitcoin continues modestly higher.

Short-term USD:MXN forecast

Our forecast from last week of “modestly higher rates in the coming days, followed by a correction later in the week” turned out to be exactly what happened.

We’re currently trading around 19.9 MXN to 1 USD. We expect modestly higher rates from here.

Bitcoin continues modestly higher

Bitcoin’s short-term uptrend continues. We’re still seeing a reversal and correction in the coming weeks.

Unfortunately, amendments to the horrendous cryptocurrency language in the infrastructure bill were blocked by a retiring Congressman. The unamended bill goes to the House.

Longer-term USD:MXN rate forecast

Our long-term forecast is still higher for the USD:MXN exchange rate through 2021.

Best regards,

Will

bridge21

The content in this update is for informational purposes only. You should not construe any information or other material in this update as legal, tax, investment, financial, or other advice. While we took care to share correct information from reputable sources, bridge21 cannot guarantee the accuracy or timeliness of the information.