The Mexican peso depreciated for the fifth consecutive day on Monday, in a cautious market awaiting the comments of the head of the Federal Reserve, Jerome Powell, at the economic policy symposium in Jackson Hole, this week.
The Mexican currency started session with "a depreciation of 0.51% or 13.35 cents, trading around 20.22 pesos per dollar, with the exchange rate touching a minimum of 20.1193 and a maximum of 20.2668 pesos. The above before a strengthening of the dollar, the which shows an advance of 0.49%", indicated the BASE Financial Group.
It is expected that in the next monetary policy announcement in the United States, on September 21, the interest rate will rise 50 or 75 basis points, for which the dollar has strengthened in the currency markets
The dollar index, which compares the greenback to a basket of six major currencies, rose to a mid-July high as Federal Reserve officials reiterated their aggressive monetary tightening stance ahead of the Jackson Hole Fed symposium. this week.
In fact, this Monday, the euro fell below parity with the dollar and is expected to reach 90 cents per dollar, due to the strengthening of the North American currency and the energy crisis in Europe.
With information from Reuters.