The Mexican peso was appreciated this Friday morning after three consecutive days of losses, in a market attentive to the Federal Reserve (Fed) of the United States and its next movements of monetary politics.
The Mexican currency was trading at 20.4657 units per dollar, with an advance of 0.31% compared to the Reuters reference price on Thursday; still, it was on track to end the week down 0.87 percent.
“Without major global economic and financial benchmarks, the currency will continue to be exposed to sentiment about the Fed’s future moves and their implications for sovereign bond rates and equity markets,” he said. CI Banco in a report.
According to a survey among analysts carried out by Citibanamex the market slightly improved its expectations for the Mexican peso and now it expects it to close the year at 21.50 units per greenback from the 21.60 projected in the previous survey.
The peso depreciated against the US dollar for the third day in a row on Thursday. The currency lost ground in an erratic session, with Treasury yields pausing their upward trend.
The exchange rate closed the day at 20.5024 units against an official closing of 20.4516 units on Wednesday, with data from the Bank of Mexico (Banxico). This represented a retracement of 5.08 cents for the local currency or 0.25 percent.
In the three consecutive sessions of falls, against the closing of 20.2968 units on Monday, the peso accumulated a loss of 20.56 cents, which is equivalent to 1.01 percent. Markets take in the rate hike environment.