Mexican Peso Slips Slightly Against the Dollar After Hitting Six-Week High
The U.S. Dollar Index (DXY) — which measures the greenback against six major currencies — fell 0.33% to 99.14 points.
Quick overview
- The Mexican peso declined against the U.S. dollar on Thursday, ending a six-session winning streak.
- The exchange rate closed at 18.3215 pesos per dollar, weakening by 0.06% from the previous day.
- The dollar traded within a range of 18.3370 to 18.2530 pesos during the session.
- Market optimism over the U.S. government reopening had previously strengthened the peso, which had appreciated for six consecutive sessions.
The Mexican peso edged lower against the U.S. dollar on Thursday, breaking a six-session winning streak as markets digested the normalization of U.S. government operations after a 42-day shutdown.
The exchange rate closed the day at 18.3215 pesos per dollar, according to official data from Banxico. Compared with Wednesday’s close of 18.3100, the peso weakened by 1.15 centavos, or 0.06%.
During the session, the dollar traded between a high of 18.3370 and a low of 18.2530 pesos. The U.S. Dollar Index (DXY) — which measures the greenback against six major currencies — fell 0.33% to 99.14 points.
Earlier in the day, the peso had been supported by the dollar’s decline after U.S. President Donald Trump signed the order to end the government shutdown, a move that initially boosted emerging-market currencies.
Market Context
The market’s enthusiasm over the reopening — ending the longest shutdown in U.S. history — pushed the peso to its strongest level in six weeks. Before today’s pullback, the currency had appreciated for six straight sessions, gaining 35 centavos, or 1.86%.
The U.S. government’s return to normal operations will allow federal agencies to resume the publication of official economic indicators, whose month-long delay created uncertainty around the Federal Reserve’s next interest-rate decisions. Investors will now be watching the release schedule from U.S. statistical agencies, though key employment and inflation data are not expected until next week.
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