Forex technical analysis: USDMXN little changed after earthquake.
No reports of damage
The USDMXN is little changed so far after reports of a strong 7.4 magnitude earthquake around Mexico City.
The instinctive thought is the impact should be currency negative for the MXN (USDMXN goes higher). However, the impact on a currency can be the exact opposite – particularly if there is massive damage.