The Mexican peso loses ground slightly; awaits U.S. inflation data.
The spot exchange rate stands at the level of 16.8171 units per dollar. Compared to a reading of 16.7845 units on Friday.
With no significant economic data to be released today on Monday, investors are attentively awaiting key inflation data set to be announced tomorrow and Wednesday in the United States, which could provide clues about the Federal Reserve’s next steps.
The Mexican peso is depreciating against the dollar this Monday morning. The local currency retreats at the start of a week of narrow movements, while traders prepare to receive inflation data in the United States tomorrow and Wednesday.
The spot exchange rate stands at the level of 16.8171 units per dollar. Compared to a reading of 16.7845 units on Friday at the close of the Banco de México (Banxico), the movement represents a loss of 3.26 cents, equivalent to 0.19 percent.
The price of the dollar is trading in a narrow range with a high of 16.8225 pesos and a low of 16.7324 pesos. The Intercontinental Exchange’s Dollar Index (DXY), which measures the greenback against a basket of six currencies, was down 0.16% at 105.13 points.
With no significant economic data to be released today on Monday, investors are attentively awaiting key inflation data set to be announced tomorrow and Wednesday in the United States, which could provide clues about the Federal Reserve’s next steps. Inflation has become an important factor in dollar movements and therefore also in the peso. The dollar could gain strength (weakening the peso) if U.S. inflation exceeds expectations.
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