The Mexican peso reverses losses due to optimism about interest rates in the United States.

Supported by expectations of interest rate cuts in the United States, the local currency achieved stability after operating at a loss for most of the day.

The Mexican peso closed Thursday’s trading with little change. Bolstered by the anticipation of interest rate cuts in the United States, the local currency managed to stabilize after facing losses throughout the day.

The exchange rate ended the session at 16.6818 pesos per dollar, compared to yesterday’s close of 16.6864 pesos, according to data from the Bank of Mexico (Banxico). This movement represented a marginal gain of 0.03%, less than a cent.

The dollar’s price fluctuated within an open range, reaching a high of 16.7490 pesos and a low of 16.6621 pesos. The Intercontinental Exchange’s Dollar Index (DXY), which measures the greenback against six major currencies, advanced 0.17% to 104.52 points. Yesterday’s inflation data in the United States provided certainty to the market. The currency averaged 18.66 pesos per dollar and showed strong selling signals.

Considering the current exchange rate level, we expect the parity to remain within the fluctuation range of 16.64 to 16.76. Overnight, the price is anticipated to oscillate around 16.64 due to optimistic outlooks.

Meanwhile, Mexico’s stock exchanges ended practically stable this Thursday. Local indices showed little change at the end of a day marked by comments from some Federal Reserve (Fed) officials.

The leading S&P/BMV IPC index of the Mexican Stock Exchange (BMV), which tracks the most traded local stocks, moved up by 0.01% to 57,462.17 points. The FTSE BIVA index of the Institutional Stock Exchange (Biva) fell by 0.03% to 1,177.99 points.