Quick overview

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The Mexican peso rebounded against the U.S. dollar in Thursday trading, reversing early-session losses after the United States issued an exemption allowing the sale of Russian oil to help ease pressure on global energy prices.

The exchange rate closed at 17.7396 pesos per dollar, according to official data from Mexico’s central bank (Banxico). Compared with the previous close of 17.8265, the currency gained 8.69 centavos, or 0.49%.

The dollar traded within a range of 17.9600 at the high and 17.7783 at the low. Meanwhile, the U.S. Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, fell 1.09% to 99.21.

Easing volatility supports the peso

Earlier in the session, markets had shown a more risk-off tone, pushing oil prices higher and weighing on risk assets after Iran targeted energy infrastructure in the Middle East. However, the U.S. announcement helped contain volatility in energy markets and improve overall sentiment.

The Mexican peso showed notable resilience, with analysts pointing to global energy dynamics as the key driver in the near term. Additional support came from comments by Israeli Prime Minister Benjamin Netanyahu, who stated that Iran no longer has the capability to enrich uranium or produce ballistic missiles following weeks of airstrikes.

Focus shifts to central banks and data

The Federal Reserve held interest rates unchanged in its latest decision, while both the Bank of England and the European Central Bank followed suit, reinforcing a cautious stance amid geopolitical uncertainty.

On the data front, U.S. initial jobless claims came in at 205,000 for last week, below expectations and down from a revised 213,000 in the prior week, signaling continued resilience in the labor market.