The Mexican Peso advances for the third consecutive day in a session with reduced volume.

The local currency advanced on a day with reduced volume due to the holiday in U.S. financial markets, marked by local political news.

The Mexican Peso appreciated against the U.S. Dollar for the third consecutive session this Thursday. The local currency advanced on a day with reduced volume due to the holiday in U.S. financial markets, marked by local political news.

The exchange rate concluded the session at 18.0873 pesos per dollar. Compared to yesterday’s rate of 18.1864, according to official data from the Bank of Mexico (Banxico), this movement represented an appreciation of 9.91 cents, equivalent to 0.55%.

The dollar traded within a range, reaching a high of 18.1845 pesos and a low of 18.0573 pesos. The Dollar Index (DXY) of the Intercontinental Exchange, which measures the greenback against a basket of six major currencies, lost 0.26% to stand at 105.13 points.

U.S. investors took a break this Thursday due to the Independence Day holiday. The pause came as markets awaited a key employment report expected tomorrow, which could influence future interest rates.

Meanwhile, in Mexico, traders remained attentive to local political news, as President-elect Claudia Sheinbaum Pardo made a third presentation of her cabinet members, focusing on security, education, and welfare. So far, it can generally be said that Sheinbaum has surrounded herself with highly technical and professional individuals whom she knows well.

During the session, the Peso showed very optimistic signs, approaching 18 pesos per dollar, on a U.S. holiday, with investors confident that there are no short-term risks.

ABOUT THE AUTHOR See More

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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