Mechanism
The mechanism below rationalizes the reaction mechanism with the three types of peroxiredoxins, see Wood, Z.A., Schröder, E., Harris, J.R. and Poole, L.B. Structure, mechanism and regulation of peroxiredoxins. Trends Biochem. Sci. 28 (2003) 32-40. In the structures below the thiol group which is converted into a sulfenic acid is the peroxidatic cysteine at about position 50 and the other thiol is the resolving cysteine at about position 170.

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mechanism of sulfenic acid formation
EC 1.11.1.15 peroxiredoxin