In the graph below the relationship between Canadian dollar and Mexican dollar from April to September 28 is shown. At some point the pair was going down. Many things were affecting both currencies. The Mexican peso declined on some of commodity prices. In this movement the Canadian dollar received some rebounds versus the Mexican peso. CAD/MXN was in a range or fall previously. Most currencies in emerging markets have relationship to commodity prices. Moreover, both of units reacts to changes in oil prices. Nonetheless, the Canadian dollar is more reactive to oil prices and when increase in them occurred, it jumped more than Mexican peso.
During the period on the chart the CAD/MXN was not falling below 15 level. Overall, it has seen less volatility than USD/CAD pair. Companies that are in exports also are affected by the pair as Suncor Energy.
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