Banxico Set to Meet for First Time Since US Elections as USD/MXN Surges

Bank of Mexico is scheduled to announce its monetary policy decision for the month of November later today at 14:00 EDT/19:00 GMT. Market participants are widely anticipating that the monetary authority will increase its overnight rate by 50-bps to 5.25% in an effort to stem the rout of the Mexican Peso that has ensued in the wake of Donald Trump being elected as the next President of the United States.