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The Mexican peso is trading with gains as the market absorbs US inflation data.

The local currency is regaining ground after experiencing two consecutive days of losses, but it is on track for its second consecutive weekly decline.

The Mexican peso appreciates against the dollar on Friday morning. The local currency is regaining ground after two consecutive days of losses, in a market digesting an anticipated inflation report in the United States, crucial for the Federal Reserve.

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The spot exchange rate stands at the level of 17.1617 units per dollar. Compared to a close of 17.2136 units yesterday, based on data from the Bank of Mexico (Banxico), the movement represents a gain of 5.19 cents or 0.30 percent for the peso.


The dollar price operates in an open range between a high of 17.2850 pesos and a low of 17.1148 units. The Dollar Index (DXY) from the Intercontinental Exchange, which measures the greenback against six reference currencies, rose 0.32% to 105.94 units.

The Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s favorite measure of inflation, rose 0.3% in March and 2.7% annually, higher than the expected 2.6%, fueling bets that rates will remain high.

Rate cut bets have waned due to the strength of the US economy and persistent inflation. CME Group’s FedWatch tool shows that the first rate cut is expected in September (44.9% probability).

The peso has retreated from its best levels in almost nine years, affected by various factors, including risk aversion and rate bets. With its current level, the peso is on track for a second consecutive weekly loss.

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Ignacio Teson
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
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