The Mexican peso appreciated on Monday in a market awaiting the publication of inflation data in the United States and Mexico, which could determine the course of the next monetary policy decisions of the main central banks.
dollar to peso exchange rate
The Mexican currency was trading at 20.2915 per dollar, according to Bloomberg data, with a gain of 0.62% compared to the closing price published by the Bank of Mexico on Friday.
The attention of the Mexican foreign exchange market is focused on the next publication of the US inflation figure for July since operators could use it to speculate on the direction of the monetary policy decisions that the Federal Reserve (Fed) will take, according to Ci Bank.
Meanwhile, Mexico's inflation may have accelerated again in July, a Reuters poll showed on Monday, confirming prospects that the central bank will continue to tighten monetary policy for the rest of the year.
Inflation data for Mexico will be published on Tuesday, and for the United States on Wednesday.
Mexico's central bank, known as Banxico, will make its monetary policy announcement on Thursday, when analysts expect a 75 basis point hike in its key rate, according to Ci Banco.