The peso slipped on Tuesday as confidence in a December Fed cut cooled and the dollar hovered near a multi-month high. Mexico’s economy also lost steam in the third quarter, adding pressure ahead of Banxico’s Thursday call. Mexican peso today is the market’s barometer: a stronger greenback on one side, a cautious easing cycle on the other. The question now is less about the size of the next cut and more about the wording that follows it.