The peso hit its best level since January pending US inflation data
The Mexican Peso It is appreciated in front of American dollar For the third day in a row. The positive trend that started after the elections was extended due to the weakness of the dollar, pending the release of data from economic inflation from the United States.
The exchange rate It stands at 19.6565 units per dollar, versus an official record of 19.7150 units at yesterday’s close, with data Bank of Mexico (Banxico). It offers 5.85 cents, with a variation of 0.30 percent.
The currency cross moves in a range between a maximum of 19.7115 units and a minimum of 19.6110 units per USD. With today’s basement, the peso reached its best level since the January 21 session at 19.5436 pesos.
For its part, the dollar is losing against the most important currencies. The dollar index (DXY), which he compares to a basket of six standard hard currencies, shows a decline of -0.10% with the level of 89.99 units.
The dollar gives strength ahead of the release of US inflation figures and the European Central Bank (ECB) meeting, which are expected to provide signs of global recovery and continued catalysts (on Thursday).
Markets are becoming increasingly nervous about the supposed beginning of the end of the massive monetary stimulus to support the economy. He fears that interest rates will rise and the dollar will rise if inflation continues to rise.
Currently, local CI Banco clarified in an analysis note that “the behavior of the peso means that sentiment is in control that potential inflationary pressures will be a temporary phenomenon, something that the Federal Reserve announces.”
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