The Mexican peso weakened against the US dollar on [date] after the United States announced new sanctions targeting Iran’s oil exports, increasing geopolitical concerns and demand for safe-haven assets. USD/MXN rose to [specific level] during the session. The risk-off move overshadowed data from Mexico’s national statistics agency, INEGI, showing annual inflation slowed to [X]% in [month] from [previous figure]% the prior month, slightly below expectations of [Y]%. Lower agricultural and energy prices offset higher core services costs, while core inflation remained sticky at [Z]%. The cooling headline reading gives the Bank of Mexico (Banxico) more room to consider rate cuts later this year, but officials have stressed the need for sustained evidence that inflation is moving toward its 3% target. Analysts see a higher probability of a cut at the next policy meeting, although Banxico is expected to remain data-dependent and alert to geopolitical risks and a potentially stronger US dollar. The sanctions could support Mexico’s oil exports if global prices rise, but wider risk aversion may trigger capital outflows and weigh on the peso. The currency’s next moves are likely to depend on developments in the Middle East and upcoming US economic data.