The Mexican Peso Posted Modest Gains Versus the Dollar
The Dollar Index (DXY), from the Intercontinental Exchange, which measures the U.S. currency against six major peers, fell 0.20% to 97.70.
Quick overview
- The Mexican peso strengthened against the dollar, closing at 17.1579 pesos per dollar.
- This gain occurred in a session with few economic references, as traders assessed the impact of a new U.S. tariff framework.
- The Dollar Index fell by 0.20%, reflecting a broader trend in the currency market.
- Geopolitical tensions, particularly regarding Iran, added to market volatility during the trading session.
The peso gained ground in a session lacking major economic catalysts, as traders continued to digest the impact of a new global U.S. tariff framework.
The Mexican peso strengthened against the dollar in Wednesday’s trading. The local currency advanced in a session with few key economic references, while market participants continued to assess the outlook shaped by the introduction of a new global tariff policy by the United States.
The exchange rate closed at 17.1579 pesos per dollar. Compared with Tuesday’s close of 17.1753, according to official data from Banco de México (Banxico), this represented a gain of 1.74 centavos, or 0.10%, for the currency.
During the session, the dollar traded within a range of 17.2255 pesos at the high and 17.1390 pesos at the low. The Dollar Index (DXY), from the Intercontinental Exchange, which measures the U.S. currency against six major peers, fell 0.20% to 97.70 points.
U.S. President Donald Trump said in his State of the Union address that the country is “gaining enormously” from its tariff policy, while also criticizing a Supreme Court ruling last week that invalidated many of the tariffs.
Geopolitical risk also featured in Trump’s speech, as he claimed that Iran has reactivated its nuclear program, fueling market nervousness over the possibility of military action if diplomatic efforts fail to deliver concrete results.
Overall, the exchange rate experienced a volatile session, with the peso tracking movements in the dollar, while markets remained focused on rising geopolitical tensions between the United States and Iran following Trump’s State of the Union address.
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