OctaFX is marking September as the month of the peso by introducing three new currency pairs. Beginning 13 September, the USDMXN, EURMXN, and GBPMXN pairs will become available for trading. The peso (abbreviated as “MXN”) is the national currency of Mexico. The peso is considered an exotic currency by some given its popularity and Mexico's position as a top 15 oil-producing nation. As a result, the peso has evolved from an undervalued developing-global currency into an international financial instrument.
- USDMXN is the most widely traded pair involving the peso, with U.S. economic news as a catalyst, offering low to moderate volatility. However, the most crucial factor in day-trading strategies is the high liquidity of the peso.
- GBPMXN and EURMXN pairs are not traded as often as USDMXN, and they follow British pound and euro economic news. These pairs are available on both MT4 and MT5.
Log into your account or formulate a strategy using our technical analysis to begin trading using the peso.
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