The Mexican peso rose against the dollar on Friday as investors reacted positively to a US jobs report that beat market expectations.
Exchange rate from dollar to peso, Friday, September 2
The exchange rate was quoted at the opening of this Friday at 20.0418 units per dollar, with a gain of 0.66% compared to the Reuters reference price on Thursday.
Later, the peso continued to strengthen and, according to Bloomberg data, the dollar was selling at 19.9704 pesos per unit , a gain for the Mexican currency of 1% compared to Thursday’s close of 20.1861 pesos per dollar, according to the Bank. from Mexico.
Monex analysts said in a note sent to clients that the Mexican currency could be tilted to depreciate later in the day due to the strong US non-farm payrolls report, which could strengthen the case for more aggressive interest rate hikes. by the Federal Reserve (FED).
US employers hired slightly more workers than expected in August, keeping the Federal Reserve on track for a third interest rate hike of 75 basis points this month, although the unemployment rate rose to 3.7%.
Nonfarm payrolls increased by 315,000 jobs last month, the Labor Department reported Friday in its ongoing employment report. July data was revised down slightly to show an increase of 526,000 jobs, instead of the previously reported 528,000.
With information from Reuters, Bloomberg and Banco de México.
