The Mexican peso regained ground amid bets on the Fed rate cuts.
The exchange rate closed this session at 17.6439 units. Compared to yesterday's close of 17.7649 pesos.
The market continued to bet on a rate cut in the United States, while awaiting economic figures for more clarity on monetary policy.
The Mexican peso appreciated on the second day of the week. The local currency gained ground in a market that continued to bet on a rate cut in the United States and awaited economic figures for more clarity on monetary policy.
The exchange rate closed this session at 17.6439 units. Compared to yesterday’s close of 17.7649 pesos, according to the official data from the Bank of Mexico (Banxico), this movement represented an improvement of 12.10 cents, equivalent to 0.68%.
The dollar price fluctuated within an open range, reaching a maximum of 17.8125 units and a minimum of 17.6394. The Dollar Index (DXY) on the Intercontinental Exchange, which measures the greenback against a basket of six currencies, rose 0.04% to 104.23 units.
It was reported on Tuesday that U.S. retail sales showed no change in June, with strong underlying trends signaling positive expectations for economic growth in the country during the second quarter.
The local currency traded against the trend of its regional peers after leading losses in the previous session, affected by speculation that Donald Trump could become president for a second time, following the weekend’s assassination attempt.
The appreciation is also supported by expectations that the Fed will cut rates twice before the end of the year.
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