This morning, the peso regained strength against the dollar, after the depreciation suffered on Tuesday, as part of the market reaction to the visit of Nancy Pelosi, president of the United States House of Representatives, to Taiwan.
The Mexican peso strengthened thanks to a correction effect in the market, mainly for the currencies that were most affected by the tensions between the United States and China, according to an analysis by the BASE Financial Group collected by Reuters.
dollar to peso exchange rate
Thus, the dollar is sold at 20.68 pesos per unit, which represents an appreciation of 0.64% for the Mexican currency, compared to Tuesday’s close, according to data from Bloomberg.
The exchange rate this Wednesday is also lower than the closing of the Bank of Mexico, which on Tuesday was 20.7484 pesos per dollar.
According to Banco BASE, the most appreciated currencies at the opening this morning “are the Hungarian forint with 0.94%, the Polish zloty with 0.79%, the Norwegian krone with 0.75%, the Mexican peso with 0.71% and the Swedish krona with 0.36%. %”.
“The Mexican peso is trying to shake off the doubts with which it has started August, albeit with difficulty,” local firm CI Banco said in an analysis note.
China condemned the visit on the eve of the speaker of the US House of Representatives, while Pelosi pledged her country’s solidarity with an island that Beijing considers a breakaway province.
In the United States, Federal Reserve officials signaled Tuesday that there will be no break in the campaign to curb America’s highest inflation since the 1980s, even if that brings rates to a level that more significantly curbs economic activity.
With information from Reuters, Bloomberg and the Bank of Mexico.