EconomyMexican peso advances for the third day, would close...

Mexican peso advances for the third day, would close the week with a moderate rise

The Mexican peso appreciated on Friday for its third consecutive daily rise, amid a weakness in the US dollar that gave some breathing room to the currencies of the region. It trades at its best level since August 26.

dollar to peso exchange rate

According to data from Bloomberg, the dollar is sold at 19.8864 pesos per unit, which implies a gain of 0.36% compared to the close of Thursday registered by the Bank of Mexico.

"The Mexican peso operates close to 19.88 units, its lowest level since August 26 and with an appreciation of 0.27% compared to the previous closing, which is an identical variation to the one it maintains compared to last Friday," Monex said in a note. sent to clients.

"The appreciation of the peso is due to a general strengthening of currencies against the dollar in the face of an increase in appetite for risk in the financial markets at the end of the week," Banco Base said, adding that "the weakening of the dollar and the appetite for risk should be interpreted as a market that has priced in a 75 basis point increase in the US interest rate.

The currency could close the week with an advance of close to 0.22%, since its upward trend was limited in large part by the caution of investors in the face of expectations of more interest rate hikes among the world's major central banks.

With information from Reuters and Bloomberg.

Yen soars after Japan's first currency intervention in 24 years

The intervention of the Japanese authorities came after the central bank's decision to keep interest rates low to support the economic recovery.

Mexican peso remains stable prior to the monetary decision of the Fed in the...

The interest rate is expected to increase by 75 basis points in the United States, but the position of the Bank of Mexico to maintain the rate differential gives stability to the Mexican currency.

The Fed's announcement is close and this is how the peso can react

The peso may show significant volatility depending on how much the Fed decides to raise its interest rate on Wednesday, September 21.

Mexican peso backs down awaiting Fed rate decision

This week decisions are expected from other central banks in the world, which increases risk aversion. The dollar gains ground in this scenario.

Mexican peso falls while awaiting central bank meetings

For the rest of the week, the peso is expected to oscillate in a range of 19.80 to 20.45 pesos per dollar, according to the firm CI Banco.