The Mexican peso traded lower in the early hours of Wednesday, extending the losses seen since the beginning of the week, as investors feared an aggressive tone for the monetary policy of the United States Federal Reserve with the publication of the minutes. of their last meeting.
Exchange rate, from dollar to peso
The Mexican peso was trading at 20.0611 per dollar, with a loss of 0.78% against the Bank of Mexico's reference price on Tuesday, of 19.9051 pesos per dollar.
A Monex note sent to clients highlighted the depreciation of the Mexican peso to its lowest level in a week against the dollar, given the negative outlook for emerging market currencies due to the strength of the dollar and the prospect of higher interest rates.
Among the most important catalysts, Banorte pointed out in a note "the dollar on the rise due to concerns about the path of the Fed's rates that exceed the good corporate results and China's stimulus plans."
The Fed is to release the minutes of its latest monetary policy meeting on Wednesday, with investors fearing a tougher message from U.S. central bank governors as they try to rein in runaway inflation, which is at its highest level in four decades.
With information from Reuters.
