Weight advances slightly in working day with little movement

The Mexican peso appreciates marginally against the dollar this Wednesday. The local currency advances in a day that is anticipated of low trading volume due to the Christmas holidays and the end of the year.

The exchange rate stands at 20.7507 units against a close of 20.8173 units yesterday, with the data of Bank of Mexico (Banxico). This means a gain of 6.66 cents or a variation of 0.32 percent for the peso.

The cross operates in a range between a maximum of 20.8606 units and a minimum of 20.7395 units. Meanwhile, the Dollar Index (DXY), which measures the greenback against a basket of six coins, lost -0.29% to 96.21 units.

Despite the low volume, analysts are keeping an eye on news of the rapid spread of the Omicron variant of Covid-19. Several countries announced measures to contain the advance of this new mutation.

“Everything indicates that Ómicron has a high contagion rate. Specialists are evaluating whether this variant will have effects like those generated by the Delta variant in previous months,” Monex Grupo Financiero said in a report.

jose.rivera@eleconomista.mx