US dollar is falling for the third day in a row after the coordinated action from the Fed and other central banks around the world to provide USD liquidity took effect. Major central banks around the world agreed to increase the frequency of 7-day maturity operations from weekly to daily and will continue to do so at least through the end of April. The swap lines among these central banks are available standing facilities and serve as an important liquidity backstop to ease strains in global funding markets, thereby helping to mitigate the effects of such strains on the supply of credit to households and businesses, both domestically and abroad. The American currency is depreciating strongly against emerging market currencies, especially against the Mexican Peso.
USDMXN is weakening against the Peso due to recent central bank operations aimed at restoring liquidity in the markets. Source:xStation5
