The Mexican peso appreciated Tuesday in a market with an eye on a speech this week by Federal Reserve chief Jerome Powell at the annual Jackson Hole symposium, looking for signs on the future of monetary policy.
dollar to peso exchange rate today
The Mexican peso was trading at 20.1013 per dollar, with an advance of 0.16% against the Reuters reference price on Monday, spinning its second consecutive day of gains.
"There is calm awaiting Jerome Powell's conference on Friday," said Rodolfo Navarrete, economic adviser at VectorAnálisis.
For the rest of the session, the currency is expected to oscillate in a range of 20.03 to 20.17 per dollar, according to the firm Banco Base.
On the other hand, the contraction of the euro zone economy for the second consecutive month took the European currency to its lowest level in 20 years against the dollar on Tuesday, and the increase in gas prices added to the misery that drags Europe into recession.
The euro was trading at $0.9920 and is expected to fall further to $0.9600 in December, given Europe's worsening outlook, said Monica Defend, director of the Amundi Institute. "The United States and the euro zone are on different paths," he said.
Reuters information.
