The Mexican peso falls against him American dollar this Tuesday. The local currency gives ground, in line with its emerging pairs, as the greenback strengthens hand in hand with the yields of the Treasury bond.
The exchange rate stands at 20.5639 units against yesterday’s record of 20.5308 units, with the data from Bank of Mexico (Banxico). That means a loss of 3.31 cents for weight, which is equivalent to 0.16 percent.
The cross operates in an open range between a high of 20.6380 units and a low of 20.4897 units. Meanwhile, the Dollar Index (DXY), which measures the greenback with a basket made up of six currencies, rises 0.10% to 96.31 points.
Yields on 10-year US Treasuries reached their highest level in six weeks and the dollar is strengthening, due to bets on interest rate hikes from the Federal Reserve (Fed) soon this year.
“The markets’ attention at the beginning of the year has focused, both on the risk that inflationary pressures will continue, and on the future of US monetary policy,” explained Gabriela Siller, Head of Analysis at Banco Base.
The peso also depreciates while the market continues to watch for the spread of the Covid-19 Omicron variant. The United States registered more than a million new cases yesterday, a figure much higher than the previous world record.
jose.rivera@eleconomista.mx
