• The Mexican Peso has resumed its uptrend despite cooler-than-expected inflation data for March. 
• The slowdown in price pressures was not substantial enough to change the overall outlook for monetary policy. 
• Interest rates, a key FX driver, are likely to remain elevated in Mexico, supporting the Peso going forward.  

The Mexican Peso (MXN) is trading higher in most pairs on Wednesday, in line with the long-term trend of the currency. It has already undone the losses of the previous day when cooler-than-expected inflation data for March marginally raised the possibility of lower interest rates by the Bank of Mexico (Banxico).