The Mexican Peso Breaks Its Losing Streak
The spot exchange rate stands at 18.2974 pesos per dollar. Compared to a close of 18.4088 units yesterday.
The local currency is advancing against a slightly weaker dollar due to a better-than-expected inflation report in the United States and following the decision by Banxico.
The Mexican peso is appreciating this Friday, breaking a three-session losing streak. The local currency is advancing against a slightly weaker dollar due to a better-than-expected inflation report in the United States and following Banxico’s decision.
The spot exchange rate stands at 18.2974 pesos per dollar. Compared to a close of 18.4088 units yesterday, according to Banco de México (Banxico) data, this movement represents an improvement of 11.14 cents or 0.60 percent for the currency.
The dollar price is moving within a range between a high of 18.5994 pesos and a low of 18.2486. The Dollar Index (DXY) from the Intercontinental Exchange, which measures the greenback against six reference currencies, is down 0.01% to 105.90 points.
This morning, the Personal Consumption Expenditures Price Index data was released in the United States, standing at 0.2 percent. The figure was below the expected 0.3% and also below the previous 0.2%, which was revised to 0.1 percent. Analysts also added that some Fed members mentioned today that the impact of the central bank’s monetary stance has been observed. This is relevant despite stating that there is still a way to go.
The Mexican currency is on track to end June with a significant loss, falling more than 7% from a level of 16.9682 pesos last Friday before elections in which Morena, the party of President Andrés Manuel López Obrador, emerged victorious.
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