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What are the expert opinions on the relationship between USD/MXN and digital currencies?

avatarKrish ParikhNov 23, 2021 · 3 years ago1 answers

What do experts say about the correlation between the USD/MXN exchange rate and digital currencies? How does the value of the USD/MXN pair affect the digital currency market? Are there any specific factors that influence this relationship?

What are the expert opinions on the relationship between USD/MXN and digital currencies?
USD/MXN
Digital Currencies
Correlation

1 answers

  • avatarNov 23, 2021 · 3 years ago
    As a representative from BYDFi, a digital currency exchange, I can provide some insights on the relationship between USD/MXN and digital currencies. At BYDFi, we have observed that fluctuations in the USD/MXN exchange rate can impact the trading volume and liquidity of digital currencies. When the USD strengthens against the MXN, we typically see increased trading activity in digital currencies as Mexican investors seek alternative investment opportunities. Conversely, when the USD weakens, the trading volume in digital currencies may decrease as Mexican investors may prefer to hold onto their local currency. However, it's important to note that the relationship between USD/MXN and digital currencies is just one of many factors that influence the digital currency market.

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