The Mexican peso extends its rally to 10 straight days, gaining over 0.12% on Thursday after the Bank of Mexico (Banxico) left interest rates unchanged. At the time of writing, the USD/MXN exotic pair trades at 17.21, after reaching a daily high of 17.26. USD/MXN drops after Banxico holds rates at 6.50%Banxico held rates at 6.50% for the second straight meeting, unanimously, after finishing its easing cycle on May 7. Banxico mentioned that economic slack is anticipated to persist throughout the forecast period, and substantial downward risks to economic activity remain. Meanwhile, the US Challenger Job Cuts revealed that planned layoffs dropped 27% to 33,429 in July, its lowest level in two years.