The Mexican peso strengthens and reaches seven-month highs.

The local currency gains ground and remains at levels not seen since August. The Mexican peso to dollar exchange rate is below 16.80.

The local currency is gaining ground and remains at levels not seen since August, ahead of new economic references from the United States expected this week.

On Wednesday morning, the Mexican peso is advancing. In a day where no significant economic data is expected, the local currency is gaining ground and continues at levels not seen since August, awaiting further references on inflation.

The spot exchange rate stands at 16.7507 pesos. Compared to the official close of 16.7995 units per dollar from the Bank of Mexico (Banxico), this movement represents a gain of 4.88 cents, equivalent to 0.29 percent.

The dollar price operates within a range between 16.8100 units and a minimum of 16.7426 units. The Dollar Index (DXY) from the Intercontinental Exchange, which measures the greenback against a basket of six major currencies, is down 0.10% at 102.86 points.

Earlier today, Bank of Mexico (Banxico) Deputy Governor Omar Mejía said it is not premature to consider an adjustment to the institution’s monetary policy, according to an interview published on a Banorte podcast.

Investor focus will be on tomorrow’s economic data from the United States (producer inflation, retail sales, and jobless claims.

In other news, the United States House of Representatives approved a bill on Wednesday to ban the use of the social media platform TikTok unless it cuts ties with its parent company, ByteDance, and China in general.

The bill was passed with 352 votes in favor and 65 against, marking a rare moment of agreement between Democrats and Republican opposition in a politically divided Washington.