The Mexican peso ends stable at 18.44 per dollar and closes the week on a negative note.
The Mexican peso ended the week on a negative note amid concerns over the U.S. elections and the possibility of a judicial reform soon.
The peso closed virtually unchanged against the dollar on Friday. It recovered slightly after three days of losses, during which it dropped 50 cents, nearly 3%.
The exchange rate ended at 18.4427 per dollar. Compared to Thursday’s close of 18.4527 pesos, according to the official data from the Bank of Mexico (Banxico), this movement represented a one-cent improvement for the local currency, equivalent to 0.05%.
The dollar’s price ranged from a high of 18.5085 to a low of 18.3026. The U.S. Dollar Index (DXY) from the Intercontinental Exchange, which measures the greenback against six currencies, fell 0.04% to 104.31.
Amid concerns about U.S. elections and possible judicial reform, the peso recorded a weekly loss. Compared to last Friday’s close of 18.0825, it lost 36.02 cents, or 1.99%.
Markets increased bets that the Federal Reserve will cut interest rates in its September meeting, keeping them stable next week, due to a key U.S. inflation report.
The Personal Consumption Expenditures (PCE) price index rose 0.1% in June after being flat in May, according to the Bureau of Economic Analysis. Annually, it increased by 2.5% following a 2.6% rise in May.
Additionally, U.S. GDP data showed stronger-than-expected growth. The economy grew at a much higher annualized rate of 2.8% in the second quarter.
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