The Mexican peso remains largely unchanged in Monday’s session.

The Mexican currency starts the week with a moderate decline in a market that is digesting relevant information for the Federal Reserve’s interest rate outlook.

The Mexican peso is trading with little change on Monday morning. The local currency starts the week with a moderate decline in a market digesting relevant information for the interest rate outlook of the US Federal Reserve (Fed).

The spot exchange rate stands at the level of 16.6228 units per dollar. With a reference price of 16.5625 pesos on Friday, after a day without an official closure from the Bank of Mexico (Banxico) due to a holiday, it loses 6.03 cents, or 0.36 percent.

The price of the dollar is trading within a narrow range, with a high of 16.6535 units and a low of 16.5331 units. The Dollar Index (DXY), from the Intercontinental Exchange, which measures the greenback against six reference currencies, rises 0.34% to 104.90 points.

The Personal Consumption Expenditures Price Index (Fed’s preferred indicator), excluding food and energy, released on Friday’s holiday, showed a 2.8% year-on-year increase and a 0.3% monthly increase in line with analysts’ expectations.

On the other hand, Federal Reserve Chairman Jerome Powell stated on the same day that recent economic data is providing the central bank with a “cushion” as they decide when to begin lowering interest rates.

This week, on Thursday, the Bank of Mexico is scheduled to release the minutes of its most recent monetary policy meeting, while in the United States, the non-farm payroll data, which is crucial for the Fed, will be highlighted.